Maths & Formulas

MYGIDE uses pretty simple maths and standard formulas at an individual account level so you should not be worried. Where it gets brilliant is how quick, intuitive and easy it is for you to take the simple formulas and connect it with other accounts to create multiple chains of sophisticated calculations.

  1. Forget cells as building blocks. Cells in MYGIDE are to show values in a given time and a data version (Actuals, Forecast, Budget, Scenario).
  2. Formulas are applied to entire periods (actuals, future) and to time structures (monthly and annual data).
  3. Year ends, quarters, half-years, YTDs are built-in ‘end period conversion’ features, which you can stop worrying about while building models.
  4. In MYGIDE one account references other account(s), not a value in a cell somewhere. They are a parameter of the formula that the account uses.
  5. You have access to best-in-class financial modelling formulas, proven in thousands of financial models to pick from.

This keeps integrity of your calculations intact whether you change Timeframe settings or move an account from one statement to another see Display Accounts in Desired Statements.

Not to mention the amount of time you save while building and updating models with the latest historic data.

For easier orientation as to what formula is eventually applied where we have assigned each formula category distinct colours. See Coloured cells.

These are just basic instructions. Working with formulas may get a bit complicated occasionally.  If so, liaise with us. We will help.

Generic Way to Add Formula

Click to open Account Management.

Step 1 From the Accounts List select the account which you wish to add a formula to and drag & drop it to above section Active Accounts. Double click on the account makes the same trick.

Step 2 From the Available Formulas select the formula you wish to use and drag & drop (or double click) it to the section Account Formulas.

Step 3 From the Accounts List select the accounts which you wish to add as the accounts (the formula parameters) entering the equation and drag & drop it to section Formula Parameters.

Step 4 MYGIDE suggests periods the formula is typically applied to. Make your own period selection if your preference is otherwise.

Step 5 Click Save

You may experience a variation in Step 3, when in some instances this step is

  1. Handled by MYGIDE automatically – All Modelling period-to-period change formulas, or
  2. MYGIDE gives you more options to fine-tune equations (changing +/-, possibility to reference previous or future periods of a parameter entering equation. See below.

Click to see Help on formulas

Subtotal

Subtotal sums up all of its child accounts. Its pivotal role is to create vertical structure of accounts within a model. Normally this formula is applied to all periods. Its colour is green.

To add Subtotal

Repeat Steps 1-5

Consolidation

Consolidation sums up all of its child accounts that belong to and come from other models. Its pivotal role is to create vertical structure of accounts within a group of models. Normally this formula is applied to all periods. Its colour is purple.

To add Consolidation

Consolidation formula is added automatically by MYGIDE, when a consolidation tree is created within MYGIDE Consolidation tools. It is NOT available in Green Starter Kit Edition.

For Green Starter Kit users, you may see Consolidation in Available Formulas, BUT if you try to use it, it will crash the MYGIDE application.

Result

Result formula adds or subtracts accounts. Its pivotal role is to have a simple plus/minus calculations typically used to calculate profits and margins. Normally this formula is applied to all periods. Its colour is blue.

To add Result Formulas

Repeat Steps 1-5

In Step 3 change +/- and Period as per your preference. Changing Period to -1 will take value of the parameter from the preceding period.

General Or Special Formulas

General & Special Formulas are more complex variations of a result formula combining + -* / max min, if, and constants, with a predefined number and category parameters entering the equation.

These formulas were proposed by financial modelling experts and our clients.

Some formulas are applied to the actual periods, some to the future periods, others apply to all periods. The colour is also blue.

To add General or Special Formulas

Repeat Steps 1-5

In Step 3, make sure that you not only drop accounts to the section Formula Parameters, but also pick the correct line, where it belongs. Set +/- and Period as per your preference. In some instances, you will not be allowed to make changes, simply because it would make formula incorrect.

Modelling Formulas

Modelling formulas are formulas that analyse historic trends and extrapolate the future. Modelling formulas require modelling (auxiliary) rows, which in formulas are depicted X, and are created by MYGIDE automatically. MYGIDE analyses 3 years into the past by default unless changed in Step 3.

Modelling (auxiliary) rows show insight on the trends. Modelling (auxiliary) rows’ cells in the future periods can be changed manually by the user, a feature that alters the trend with preferred performance target. Once such an entry is erased, the default historic trend driven calculation is returned automatically.

Modelling formulas are exclusively applied to the future periods. The colour is light orange when a default trend driven calculation is returned, or dark orange when a manual entry to override the trend is made by the user.

To add Modelling Formulas

Repeat Steps 1-5

In Step 3, change Period to extend or narrow trend analysis from the default 3 years. In case of Modelling Ratios, from the Accounts List, select the account which you wish the ratio to be calculated to (denominator) and drag & drop it to the Denominator row in section Formula Parameters.

Change name or Modelling (auxiliary) row if so you desire, or we suggest this to be left for later when polishing terms and codes in models.

Year Ends

Year Ends convert monthly data to quarters, half-years, year-ends, year-to-dates. Use

  1. Sum of the month values for income statement accounts (added to all new accounts automatically by default by MYGIDE)
  2. Get December value for balance sheet accounts

To add Year Ends

Repeat Steps 1, 2 and 5

Custom Formulas

You can use your own formulas in MYGIDE. We call them Custom Formulas.

To add Custom Formula

Repeat Steps 1-5

In Step 3, after you have dragged and dropped from the Accounts List the accounts which you wish to add as the formula parameters, change / add mathematical operators (+, –, *, /,^,(), etc.) functioning among the tagged parameters (P1, P2, P3…) to the Function field.

You may also add constants, expressed as numbers, e.g. (P1*2-P2^3)/P3

Alternatively you can send us the formula, which you wish to be implemented. Some clients do.

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