| Schedule of Accrued Expenses and Other Current Liabilities |
Accrued expenses and other current liabilities consisted of the following:
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As of May 31, |
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2025 |
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2026 |
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US$ |
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US$ |
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Accrued payroll |
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421,746 |
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485,363 |
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Refund liability (a) |
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181,417 |
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206,173 |
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Payable for purchase of property and equipment |
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52,004 |
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58,279 |
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Accrued advertising fees |
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24,453 |
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33,413 |
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Amounts reimbursable to employees (b) |
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23,615 |
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31,809 |
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Advance payment from students (c) |
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21,768 |
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22,174 |
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VAT payable |
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17,987 |
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16,076 |
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Payment to merchant (d) |
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14,558 |
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16,761 |
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Welfare payable |
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12,574 |
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17,260 |
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Refundable deposits (e) |
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7,949 |
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8,412 |
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Royalty fees payable (f) |
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6,844 |
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6,707 |
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Rent payable |
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4,393 |
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3,114 |
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Other taxes payable |
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3,956 |
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2,922 |
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Accrued professional service fees |
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1,902 |
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2,709 |
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Payable for investments and acquisitions |
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567 |
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605 |
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Others (g) |
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34,850 |
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25,972 |
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Total |
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830,583 |
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937,749 |
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(a) |
The refund liability is recognized for variable amount of the considerations received from the customers and recorded as refund liability as described in Note 2. |
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(b) |
Amounts reimbursable to employees include travelling and business related expenses. |
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(c) |
Advance payment from students represent (1) the miscellaneous expenses other than tuition fee prepaid by students which will be paid out on their behalf; and (2) advance payment prepaid by students for class enrollment. |
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(d) |
Payment to merchant represents cash received from consumers and deposited in a special bank account reserved for payments to merchants. |
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(e) |
Refundable deposits represent student deposits for dormitory or other fees that will be refunded upon graduation and student security deposits refunded upon completion of the study tour. |
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(f) |
Royalty fees payable relate to payments to content providers for on-line learning programs and those to counterparties for copyrights and resource sharing. |
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(g) |
Others primarily include transportation expenses, utility fees, property management fees and other miscellaneous expenses payable. |
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