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PREPAID AND OTHER CURRENT ASSETS, NET (Tables)

12 Months Ended

Dec. 31, 2018

Prepaid Expense and Other Assets [Abstract]

Schedule of Prepaid and Other Current Assets

Prepaid and other current assets consisted of the following:

		As of December 31,
		2017				2018
		RMB				RMB
Amount due from Xihua Group (Note i)			49,800				49,800
Value added tax refundable			5,165				5,165
Due from former owners			5,743				5,743
Staff advances			5,857				7,885
Rental deposits			3,804				3,522
Prepaid professional services fees			6,513				5,053
Prepaid rental fees			5,520				7,794
Receivable from Zhenjiang operating rights (Note ii)			35,000				35,000
Others (Note iii)			23,327				24,462
Total before allowance for doubtful accounts			140,729				144,424
Less: allowance for doubtful accounts			(11,212	)			(9,654	)
Total			129,517				134,770

(Note i) A payable balance amounted to RMB 49,800 was recorded by a subsidiary prior to its acquisition by the Group, and such payable was indemnified by Xihua Investment Group (“Xihua Group). No provision was made for the indemnity. The indemnity balance was still outstanding as of the date of issuance of the financial statements.

 (Note ii) The balance represented the prepaid operating rights to the Zhenjiang Foreign Language School and Zhenjiang International School. The Group started a negotiation of returning the operating right back to the original owner Zhenjiang Education Investment Center in the third quarter of 2011. As a result, the prepaid operating rights have been reclassified as receivable since then. As of December 31, 2017 and 2018, the payable balance to Zhenjiang Foreign Language School amounted to RMB 36,770 and RMB 36,770, respectively (see Note 13); therefore, no provision was made. As of the date of issuance of the financial statements, the negotiation was still in progress.

(Note iii) Others mainly included inventory, prepaid education supplies, prepaid outsourcing service fee, and other miscellaneous items with trivial amounts.

Schedule of Allowance for Doubtful Accounts

Allowance for doubtful accounts:

		As of December 31,
		2017				2018
		RMB				RMB
Balance at beginning of year			(179,055	)			(11,212	)
Addition (Note iv)			(2,690	)			(1,029	)
Written off			150,886				2,587
Decrease due to disposal of subsidiaries (Note v)			19,647				-
Balance at end of year			(11,212	)			(9,654	)

(Note iv) Other addition of allowance during the years of 2017 and 2018 was mainly provided against third parties and former employees due to the remote recoverability.

(Note v) In the year ended December 31, 2018, the Group negotiated and recovered receivables due from Xihua Group in RMB 20,000. It was part of receivables from Xihua Group which had been provided with allowance and written off in the year of 2012 in RMB 46,829, because our management had to focus on JPL process in 2012 and following years till 2014, and did not have enough resources to put towards collection of such receivables back then. In 2018, Xihua Group was searching for a business cooperation agreement with the Group, which led to the collection of the receivable in RMB 20,000 as a final settlement of historical receivables as aforementioned. As of December 31, 2018, RMB 20,000 has been fully collected by the Group.

X

- Definition

Tabular disclosure of the amounts paid in advance for capitalized costs that will be expensed with the passage of time or the occurrence of a triggering event, and will be charged against earnings within one year or the normal operating cycle, if longer; the aggregate carrying amount of current assets, not separately presented elsewhere in the balance sheet; and other deferred costs.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.17)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

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- Definition

Tabular disclosure of credit losses for current financing receivables (such as trade and accounts receivable), including a rollforward of the balance. An alternative caption includes allowance for doubtful accounts.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 11B
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=84173941&loc=SL6953423-111524

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