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Summary of Significant Accounting Policies (Tables) | 12 Months Ended
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Mar. 31, 2021
Accounting Policies [Abstract] |
Schedule of subsidiaries and its subsidiary's VIE |
Company |  |  | Date of establishment |  |  | Place of establishment |  |  | Percentage of legal ownership by Wah Fu |  |  | Principal activities |
Subsidiaries: |  |  |  |  |  |  |  |  |  |  |  |  |
Wah Fu Holding |  |  | May 19, 2016 |  |  | Hong Kong, PRC |  |  | 100% |  |  | Holding Company |
Distance Learning |  |  | December 23, 1999 |  |  | Mainland, PRC |  |  | 100 % |  |  | Provider of online education services and technological development and operation services |
Shanghai Xin Fu |  |  | July 20, 2015 |  |  | Mainland, PRC |  |  | 100% |  |  | Inactive |
Shanghai Xia Shu |  |  | April 29, 2016 |  |  | Mainland, PRC |  |  | 100% |  |  | Inactive |
Hunan Huafu |  |  | June 15, 2015 |  |  | Mainland, PRC |  |  | 75% |  |  | Provider of online education services |
Nanjing Suyun |  |  | March 8, 2017 |  |  | Mainland, PRC |  |  | 70% |  |  | Provider of online education services |
Huaxia MOOC |  |  | March 15, 2017 |  |  | Mainland, PRC |  |  | 51% |  |  | Provider of online education services |
Guizhou Huafu |  |  | April 25, 2017 |  |  | Mainland, PRC |  |  | 51% |  |  | Provider of online education services |
Fuzhou Huafu |  |  | May 21, 2018 |  |  | Mainland, PRC |  |  | 65% |  |  | Provider of online education services |
Liaoning Huafu |  |  | June 26, 2018 |  |  | Mainland, PRC |  |  | 70% |  |  | Provider of online education services |
Guangxi Huafu |  |  | August 14, 2019 |  |  | Mainland, PRC |  |  | 55% |  |  | Inactive |
Huafu Silu* |  |  | September 18, 2018 |  |  | Mainland, PRC |  |  | 51% |  |  | Inactive |
Guangzhou Huafu |  |  | October 21, 2019 |  |  | Mainland, PRC |  |  | 60% |  |  | Inactive |
Sichuan Huafu |  |  | November 8, 2019 |  |  | Mainland, PRC |  |  | 60% |  |  | Inactive |
Variable interest entity |  |  |  |  |  |  |  |  |  |  |  |  |
Digital Information |  |  | September 14, 2000 |  |  | Mainland, PRC |  |  | Nil |  |  | Provider of technological development and operation service and holder of Internet Content Provider (“ICP”) License |
* | Huafu Silu was dissolved on March 4, 2020.
Schedule of consolidated balance sheets |
|  | As of March 31, 2021 |  |  | As of March 31, 2020 |
Current assets |  | $ | 267,727 |  |  | $ | 149,289 |
Non-current assets |  |  | 63,177 |  |  |  | 62,577 |
Total assets |  |  | 330,904 |  |  |  | 211,866 |
Current liabilities |  |  | 247,462 |  |  |  | 142,711 |
Intercompany payables* |  |  | 3,394,741 |  |  |  | 3,020,067 |
Total liabilities |  |  | 3,642,203 |  |  |  | 3,162,778 |
Net assets |  | $ | (3,311,299 | ) |  | $ | (2,950,912 | )
* | Intercompany payables are eliminated upon consolidation.
Schedule of statements of comprehensive income |
|  | For the Years Ended |
|  | March 31, 2021 |  |  | March 31, 2020 |  |  | March 31, 2019 |
Revenue* |  | $ | 514,888 |  |  | $ | 309,380 |  |  | $ | 1,585,677 |
Net loss |  | $ | (114,129 | ) |  | $ | (1,247,053 | ) |  | $ | (36,887 | )
* | Intercompany sales are eliminated upon consolidation.
Schedule of statements of cash flows |
|  | For the Years Ended |
|  | March 31, 2021 |  |  | March 31, 2020 |  |  | March 31, 2019 |
Net cash provided by operating activities* |  | $ | 92,187 |  |  | $ | 100,016 |  |  | $ | 51,611 |
Net cash used in investing activities |  |  | (1,252 | ) |  |  | (1,477 | ) |  |  | (14,017 | )
Effect of exchange rate fluctuation on cash |  |  | 15,091 |  |  |  | (4,103 | ) |  |  | (1,039 | )
Net increase in cash |  | $ | 106,026 |  |  | $ | 94,436 |  |  | $ | 36,555 |
* | Intercompany operating activities are eliminated upon consolidation.
Schedule of estimated useful lives of property and equipment |
|  | Estimated useful lives |
Buildings |  | 20 years |
Electronic equipment |  | 4 - 5 years |
Office equipment and furniture |  | 4 - 5 years |
Motor vehicles |  | 4 - 5 years |
Software |  | 5 years |
Leasehold improvements |  | The shorter of the lease term and useful life |
Summary of disaggregated revenue from contracts with customers by timing of revenue recognition |
|  | For the Years Ended |
|  | March 31, 2021 |  |  | March 31, 2020 |  |  | March 31, 2019 |
Services transferred at a point in time |  |  |  |  |  |  |  |  |
Revenue from Online Education Services |  | $ | 584,138 |  |  | $ | 219,912 |  |  | $ | 126,665 |
Revenue from Technological Development and Operation Services |  |  | 77,486 |  |  |  | 91,757 |  |  |  | 943,686 |
Services transferred over time |  |  |  |  |  |  |  |  |  |  |  |
Revenue from Online Education Services |  |  | 7,674,311 |  |  |  | 5,150,788 |  |  |  | 4,058,931 |
Revenue from Technological Development and Operation Services |  |  | 179,625 |  |  |  | 174,913 |  |  |  | 228,741 |
Total |  | $ | 8,515,561 |  |  | $ | 5,637,370 |  |  | $ | 5,358,023 |
Schedule of deferred revenue |
|  | As of |  |  | As of |
|  | March 31, 2021 |  |  | March 31, 2020 |
Beginning balance |  | $ | 1,524,918 |  |  | $ | 620,332 |
Ending balance |  |  | 4,141,555 |  |  |  | 1,524,918 |
Increase |  | $ | 2,616,673 |  |  | $ | 904,586 |

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