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Accrued Expenses and Other Current Liabilities (Details) - Schedule of accrued expenses and other current liabilities - USD ($)
Jul. 31, 2022
Jul. 31, 2021
Schedule Of Accrued Expenses And Other Current Liabilities Abstract    
Investment securities payable [1] $ 1,466,490
Due to a third party [2] 500,000
Accrued legal consulting expenses 125,676 152,044
Accrued payroll expenses 51,623 48,131
Accrued legal liabilities [3]   283,644
Others 130,982 31,044
Total $ 2,274,771 $ 514,863
[1] During the year ended July 31, 2022, ATIF LP borrowed certain investment securities from an investment bank as a trading strategy. As of July 31, 2022, the balance represented the fair value of investment securities owned to the investment bank.
[2] The balance due to a third party represented the proceeds collected from a third party, which purchased portion of the Company’s long-term investments. As of July 31, 2022, the purchase was not closed and the Company recorded the proceeds in the account of accrued expenses and other current liabilities.
[3] The balance of accrued legal liabilities represented the amount due to Huale Group Co., Limited (“Huaya”), which filed the arbitration with the Court against Huaya and requested a refund of consulting service fee in 2017. On September 25, 2020, the Court issued a final judgment ruling in favor of Huale and required Huaya to return a deposit of $250,000 to Huale and pay arbitration fee and counterclaim fee of $11,724 (RMB 81,844). Based on the Court ruling, the Company accrued legal liabilities of $261,724 for the year ended July 31, 2020.