XBRL Reporting Integration
by Yanna for Mifos (The Community for Open Source Microfinance)
This project idea originates from the MIX proposed pilot XBRL program. XBRL, a standard for financial reporting, have been applied widely in financial companies and organizations. Since Mifos is a management system for microfinance and MIX is an important platform for microfinance performance data and analysis, it is necessary to implement the XBRL reporting on MifosX platform to fit the MIX reporting standard. Besides that, by adopting XBRL on MifosX platform, MifosX will largely reduce the time the MFIs spend on generating financial reports to their funders and regulators. As XBRL is gradually being adopted by more and more institutes, XBRL reporting should be a must-have function in microfinance software.