At the moment I am going from square meters to square yards. One meter is $1.0936$ yards.
So I figure $1\text{m}^2 = 1.0936 \text{yards}^2$
I know it isn't but I want to learn a good systematic way to understand why I square each part of the yards side i.e $1.0936^2\text{yards}^2$ even though I did not square each part of the other side.
Since we've got
$1 \text{m} = 1.0936 \text{yd}$
we can rearrange to conclude that
$$1 = \frac{1.0936 \text{yd}}{1 \text{m}}$$
Thus, we have
$$1 \text{m}^2 = \left(1 \text{m}^2\right) \cdot 1 \cdot 1 = \left(1 \text{m}^2\right) \frac{1.0936 \text{yd}}{1 \text{m}} \cdot \frac{1.0936 \text{yd}}{1 \text{m}} = (1.0936)^2 \text{yd}^2$$
We had to multiply by the conversion factor twice, since we have the unit m twice.