The CuBr-catalyzed A3-coupling-based tandem reactions of terminal propargyl alcohols, aldehydes and amines to synthesize five-membered dihydrofuran P1, disubstituted furan P2 and six-membered pyrone P3 have been developed. In this work, density functional theory (DFT) calculations have been performed to uncover the detailed reaction mechanisms and the substituent effects on the transformation of dihydrofuran P1 to pyrone P3. Computational results suggest that the catalytic cycle of dihydrofuran P1 is divided into three main processes: A3-coupling, isomerization and intramolecular cyclization. The generation of disubstituted furan P2 from dihydrofuran P1 proceeds via N-methylation and deprotonation steps. The transformation of five-membered dihydrofuran P1 to six-membered pyrone P3 is affected by the substituents R on substrate aldehyde 2. When R = OEt this transformation proceeds smoothly, undergoing the favorable OEt departure pathway. In contrast, the departure pathway is unworkable for Ph- and Me-substituted aldehydes due to the lack of hydrogen-bonding stabilization. They could only follow 1,2-R migration pathways. However, the high activation barriers in the migration pathways for the two aldehydes render the transformation infeasible. The results also reveal that silica gel acts as a significantly important hydrogen bond partner to stabilize the complexes in the transformation process. The theoretical research contributes to deeper insights into the mechanisms and the origins of substituent effects on the transformation between different heterocycles of the title reaction, which would promote the further development and design of the five- and six-membered oxygen-containing heterocycles.