It's easy for permissions discussions to become an alphabet soup of acronyms and get very confusing.  For simplicity let's define an ACL and ACE.  ACL stands for Access Control List, which simply has a list of Entries (Known as the ACE or Access Control Entry).    So, the list has a bunch of entries about who can access a file or a folder.  An entry is something like "Everyone- full control" or "Accounting Group - ReadOnly". When you right click on a folder from a windows client and go to properties and click the security tab...all that stuff you see is a graphical representation of the ACEs listed in the ACL for that file or folder.    You see things like groups or user names in the top box and if you click on one of those entries, you see the bottom box displays things like Full Control, Modify, Read & execute, List folder contents, Read, Write, Special with little checkboxes for allow or deny.    Those ARE the ACEs in the ACL.  It's that simple.
I understand UNIX permissions, but when it comes to Windows ACLs and ACEs, I'm getting lost.  How do Windows permissions work?
ACLs and ACEs and Windows permissions