Recent Tutoring Session Reviews
"We reviewed the questions that I asked him to complete at the end of Chapter 14. I also asked him to complete a few problems from the book to clear up his confusion in classifying cash flow transactions. We did a short review on Chapter 13 with Stockholder's Equity. He made a couple of mistakes with paid in capital in excess of par so he wanted to make flashcards to clear up any confusion. I gave him a few ways to remember the Statement of Cash Flows format to assist in its construction. I also worked through some more test taking skills with the multiple choice questions at the end of Chapter 14. He has set a massive review for Thursday for his last test."
"This is my final session with the student. We continued to review the practice problems for the final exam. We went over concepts on contribution margin analysis and different product cost treatments. He asked more questions in this session. I suggested to him that if he does not feel he can get a good understanding on all the materials, then he should focus on those topics that he does have good understanding on. Throughout all the sessions, I can see the progress in him. I wish him good luck for the final exam."
"The student and I reviewed additional problems focusing on the area of revenue recognition and reporting. The first question required the calculation of gross profit based upon the percentage of completion method for two years, and then the completion of the related journal entries for one year. We also reviewed a problem related to the accounting for installment sales, which required the calculation of the deferred gross profit and realized gross profit, as well as cash collected (and we discussed the practical recognition each year as opposed to recognition all at once in a future year)."
"During the tutoring session we reviewed the Excel spreadsheet/file that is being used to test all the accounting management concepts that were taught during the semester. The student felt very comfortable with the work that was completed, and she had a review scheduled with the professor. I encouraged the student to schedule a follow up if necessary."
"Concepts covered; common stock, equity financing, retained earnings and shareholders' equity. Student has good attitude and is doing well with the concepts. Follow up session scheduled for Saturday."
"The student and I discussed internal controls and related substantive testing and deficiencies. We also discussed custody of assets and documents, recordkeeping, and authorization as it relates to segregation of duties."