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Investments in Trading Securities | 3 Months Ended
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Oct. 31, 2022
Investments, Debt and Equity Securities [Abstract] |
INVESTMENTS IN TRADING SECURITIES | NOTE 7 – INVESTMENTS IN TRADING SECURITIES As of October 31, 2022 and July 31, 2022, the balance of investments in trading securities represented certain equity securities of listed companies purchased through various open market transactions by the Company during the relevant periods. The investments are initially recorded at cost, and subsequently measured at fair value with the changes in fair value recorded in other income (expenses), net in the unaudited condensed consolidated statement of operations and comprehensive loss. For the three months ended October 31, 2022 and 2021, the Company recorded a decrease in fair value of $20,004 and $339,374, respectively. Investments in trading securities consisted of the following:
|  | October 31, 2022 |  |  | July 31, 2022 |
|  | (unaudited) |  |  |  |
Trading securities invested by ATIF |  | $ | 58,245 |  |  | $ | 12,740 |
Trading securities invested by ATIF LP |  |  | - |  |  |  | 20,606 |
|  | $ | 58,245 |  |  | $ | 33,346 |

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- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -URI https://asc.fasb.org/subtopic&trid=2209399 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -URI https://asc.fasb.org/subtopic&trid=2324412 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI https://asc.fasb.org/topic&trid=2196928 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 940 -SubTopic 320 -URI https://asc.fasb.org/subtopic&trid=2176304 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 1403 -Paragraph (b) + Details
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