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What is a Modular Model?
A modular model splits out the core statements into smaller schedules and conducts the calculations outside of the core statements. This allows the focus to remain on the core statements, which can now be kept cleaner. Supporting schedules do all the calculations and dirty work. In a horizontal model, these supporting schedules may be placed on separate tabs from the core statements.
When calculations are completed, the resulting output can be referenced back to the core statements. As such, most line items within the balance sheet, income statement, and cash flow statements are references to the supporting schedules, as opposed to containing inputs or formulas.
Why use a modular model?
The benefit of the modular model is that it is easier to manipulate small pieces of data, as calculations have been dissected into their individual pieces. Also, because data has now been split, it becomes easier to see where mistakes or errors have arisen. The modularity of the model makes understanding the flow of data easier.
Depending on the information needed, a modular model also allows new data, accounts, or schedules to be added to the core statements easily. As opposed to having to create new lines and formulas within the core statements, the analyst can cleanly create a new schedule to calculate values for the new accounts. Then it becomes as simple as inserting a new line in the relevant core statements and referencing the new schedule.
What schedules are used in modular models?
The following are just some supporting schedules that support the core statements within a modular model:
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FAQs
What is a Modular Model? A modular model splits out the core statements into smaller schedules and conducts the calculations outside of the core statements. This allows the focus to remain on the core statements, which can now be kept cleaner. Supporting schedules do all the calculations and dirty work.
What is a modular solution? ›
Modular solutions are a way of designing and building systems that consist of independent and interchangeable components. They offer many benefits for solution architects, such as flexibility, scalability, reusability, and maintainability.
What are examples of modular products? ›
Cars, computers, process systems, solar panels, wind turbines, elevators, furniture, looms, railroad signaling systems, telephone exchanges, pipe organs, synthesizers, electric power distribution systems and modular buildings are examples of platform systems using various levels of component modularity.
What does it mean if something is modular? ›
: constructed with standardized units or dimensions for flexibility and variety in use. modular furniture.
What is modular example? ›
What Are Some Examples Of Modular Design Products? Modular design is commonly used in various consumer products like cars, smartphones, computers, and televisions. Other modular design examples include software engineering, software product design, and even large websites (with each webpage as an individual component).
Why is it called modular? ›
Rather than being built all at once, they are built in separate parts that get assembled into a finished product. The word modular has been used this way since the 1930s — earlier, it was a purely mathematical term, from the Latin word modulus, or "small measure."
What is the purpose of modular? ›
Modular learning arranges information in a way that presents points in an intelligent way, and it can be individualized according to learners' needs.
What is the downside of modular? ›
If a modular component fails, it can be difficult and expensive to replace. The overall effectiveness of modular design depends on the quality of the individual modules and how well they are integrated. Poorly designed modules can lead to problems and inconsistency in the overall product.
What is modular methods? ›
Modular construction is a process where a building is constructed offsite using controlled plant conditions before being transported and assembled at a final location. This type of construction can incorporate a range of different building types and floor plans.
What does it mean when a product is modular? ›
Put simply, they're products made up of interchangeable components. They let you add on new pieces, or swap existing parts for something different. Think of a camera with a set of lenses you can plug-in or screw on to the main device to get the perfect shot.
The concept of modularity is used primarily to reduce complexity by breaking a system into varying degrees of interdependence and independence across and "hide the complexity of each part behind an abstraction and interface".
What is your modular? ›
A modular system is a collection of building blocks that can be configured in different ways, adapting for different customer needs. Over time, some modules will be developed to serve new purposes or to improve performance in some aspect.
What is a synonym for modular? ›
commutable interchangeable standard transposable. Strong matches. compatible exchangeable extensible substitutable. Weak matches. adaptive customizable flexible mutual portable reciprocal.
What is a modular problem? ›
Modular arithmetic is a special type of arithmetic that involves only integers. This goal of this article is to explain the basics of modular arithmetic while presenting a progression of more difficult and more interesting problems that are easily solved using modular arithmetic.
Why is modular better? ›
Advantages include the flexibility for students to study and work simultaneously, fostering self-independence, discipline, and time management skills . Additionally, teachers find that printed modules are readily available and students' outputs are well-thought-out, aiding in lesson preparation and assessment .
What does modular mean in design? ›
“Modular design, or modularity in design, is a design theory and practice that subdivides a system into smaller parts called modules, which can be independently created, modified, replaced or exchanged between different systems.” — Wikipedia.
What is modular model of the brain? ›
Modular models of the brain aid the understanding of a complex system by decomposing it into structural modules (e.g., brain regions, layers, columns) or functional modules (schemas) and exploring the patterns of competition and cooperation that yield the overall function.
What does modular mean in learning? ›
Modular learning is the approach where the focus is on learning outcomes, and its success relies on connecting outcomes to student learning and course design. These areas combine to make a course constructively aligned as discussed by Biggs (1999).
What is a module in modeling? ›
Summary: Modules are where the business logic and calculations of a model reside. In this short lesson, learn how time, versions, lists, and line items are used to build modules.
