This study analyzed how self-generated elaboration, instructor-assisted elaboration, and self-generated followed by instructor-assisted elaboration, affect accounting students' acquisition of procedural knowledge, intellectual skills, and their attitudes towards learning. The results indicate that the self-generated elaboration instructional strategy improves accounting students' acquisition of procedural knowledge and intellectual skills more than the instructor-assisted elaborations. However, the effects of these instructional strategies on attitudes are not significantly different. Also, our three-way ANOVA results indicate that the students who have higher GPAs and pretest scores tend to have more intellectual skills, but not necessarily more procedural knowledge or more positive learning attitudes, using the self-generated elaboration instructional strategy.