Recent Tutoring Session Reviews
"Today we covered chapter 3 and 4. We discussed a lot about retained earnings. We went over more multiple choice questions and practice problems. We also covered information regarding cash flows. He has shown great progress and is able to apply a lot of the concepts that we discussed in our last meeting."
"The student had an assignment in accounting that we covered first. The focus of the assignment was on property and equipment calculations including turnover, % used up and average useful life. We also covered the difference between straight-line and double declining depreciation. We talked through each problem and what it was asking for then confirmed the calculations and answers. We discussed the target case questions for his finance class. We started with the difference in hurdle rates for 2 different items, why there is a difference and a method to calculate reasonableness. I will be sending the student a summary finance formula sheet to help with explaining relevant finance calculations."
"We briefly viewed one PowerPoint presentation from Ch. 1 on the managerial accounting basics. We did a high-level overview on the different account classifications. The focus of today's session was on equivalent units under process costing. We discussed the concept of equivalent units by using the manufacturing of a water bottle as an example. Then we walked through one of his past homework problems on equivalent units. Next, he solved a similar problem to practice. At the end of the session, I gave him four formulas on cost-volume-profit analysis that he should memorize by rewriting the formulas repeatedly. The goal for out next session will be to help him with his homework problems on cost-volume-profit analysis."