Recent Tutoring Session Reviews
"The student wanted to focus on the review of tax accounting in preparation for the end of the semester. We were able to review several problems related to the calculation of taxable income, taking into consideration gross income/adjusted gross income, exemptions and the deduction of itemized deductions (and also the different treatment of capital gains and dividends), as well as the calculation of the tax basis or values of assets and related expenditures."
"Reviewed the following topics: Adjusting Journal Entries, Prepaid Expenses, Accruals, Depreciation, Adjusted Trial Balances, Income Statement, Owners Equity Statement and Balance Sheet. Student is progressing very well. Productive session."
"The student is taking advanced accounting, and today we spent 1.5 hours working through his problem set for chapter 1. Now he will continue with chapter 2, and we also laid out a strategy for working together and for successfully completing this class. He is in a program where he'll graduate with his BBA and MBA, and his concentrations are Accounting and Finance. "
"We reviewed the student's class assignment. I explained how she can do entries for prepaid expenses, unearned revenues when they occur, and what adjustments she should do at the end of the fiscal year. She wasn't very familiar with the concepts, since her major wasn't accounting, so I encouraged her to read all of her class notes. She was able to understand and feel much better about this type of assignment after this session."
"We went over some of the questions that she brought, and I made them make more sense. I tried to relate her debit and credit journal entries for assets to debit and credit cards."
"We went through all of the accounting equations including ROA, operating leverage, inventory turnover, days in inventory, accounts receivable turnover, days in accounts receivable, and more. We also went through the statement of cash flows and the segment income statement."