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ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES | 12 Months Ended
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Feb. 29, 2012
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES |
ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES |
12. ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES Accrued expenses and other current liabilities consisted of the following:
|  | As of |  | As of |
|  | February 28, |  | February 2 9, |
|  | 20 11 |  | 201 2 |
Accrued employee payroll and welfare benefits |  | $ | 4,815,701 |  | $ | 9,614,318 |
Other taxes payable |  | 1,770,780 |  | 2,362,052 |
Proceeds from employees’ transferring stocks (1) |  | — |  | 885,869 |
Professional service fee payable |  | 684,931 |  | 478,890 |
Enrollment fees collected for sponsors |  | 307,536 |  | 281,293 |
Accrued teaching material costs |  | — |  | 465,627 |
Accrued advertising expenses |  | — |  | 231,600 |
Payable for acquisition of Wuhan Jianghan School |  | 33,783 |  | 35,274 |
Payable for investment in Holiday School |  | — |  | 95,337 |
Others |  | 441,249 |  | 833,930 |
Total |  | $ | 8,053,980 |  | $ | 15,284,190 |
(1) During the year ended February 29, 2012, the Company acts as a custodian for non-vested shares awards granted to employees under the 2010 Share Incentive Plan. Subsequent to the vesting of such awards and at the request of an employee, the Company will sell the related shares and take delivery of the sale proceeds; upon the payment of related withholding taxes, the proceeds are forwarded to the employee, which is generally within a few weeks.

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- Definition The entire disclosure for accounts payable and accrued liabilities at the end of the reporting period. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 19 -Subparagraph a -Article 5 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 20, 24 -Article 5 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(a),20,24) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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