Recent Tutoring Session Reviews
"We worked on homework for chapter 4, process costing. The student scored 100% on the homework this time. He is getting great scores now and is picking up the material much easier."
"The student has a test tomorrow, and she has missed a couple of days. We made sure she understood debits and credits and journal entries. She is a smart girl and definitely seems to grasp the basic concepts. I told her to make sure she has a debit and credit on every journal entry and to review the definitions tonight."
"We covered the first 3 sessions of the accounting course. We reviewed balance sheet accounts and ledgering/ posting of entries. We reviewed revenue recognition and will revisit this topic. The student did the assigned practice problems for these sessions. I asked him to review sessions 4 and 5 notes and to complete session 4 problems. We continued review of the midterm exam and reviewed how to account for depreciation, interest expense, and prepaid items, again reviewing revenue recognition principles. We discussed how to determine ending supplies/ inventories balance and started on inventory accounting. It was very useful to review the concepts we did, as the student was unsure about cash vs. accrual accounting. He made good progress. I stressed the importance of practicing problems on his own and will keep in touch to keep him motivated."
"In today's session, we covered how trade allowances affect revenue. Also, we covered the relationship between allowance for doubtful accounts and bad debt expense. We went over a couple of homework problems. I showed him the usefulness of T accounts and how these affect the income statement. We also went over how breaking down the problem into its components may help to simplify and stop the information from being overwhelming."
"The student worked on a homework assignment covering accounts receivable, bad debt, and interest accounts. She did an excellent job and just needs to work on the problems and have them explained in steps. She needs to break the problems down into smaller, easier to manage segments to help simplify things."
"Today, the student and I covered Chapter 15, which focused on the topic of monopolies. We were able to complete a review of the entire chapter, and I believe he found that most concepts were not too difficult. He indicated that he will finish reading the chapter and will review certain concepts again, including those related to the graphs and costing concepts. We discussed the characteristics of a monopoly, the "profit maximizing" quantity and price selection (and how this can be viewed within a graph), the concept of "deadweight loss" (from higher prices and lower quantities to society), and price discrimination."