Constant

A value that is the same for all periods of time. This can be compared to a Line Item, which can be varied over time.

Use in FO Types and Case Dimensions

When a parameter is added to an FO or case dimension it can be specified as a constant. Once the constant is created, it can be assigned a unit type

Units	Formatting	FOs	Cases	Description	Example
Monetary	Currency	X	X
Percent	Percentage	X	X	Any value entered will be converted to a decimal for calculation purposes.	100% would be converted to 1
Annual Rate	Percentage	X	X	Any value entered will be interpreted for calculation purposes based on the timeframe of the model.	12% will be converted to 1% if the model is monthly, or 3% if the model is quarterly.
Periods	None	X	X	A value defined as periods will be interpreted based upon the timeframe of the model.	In an Annual model, a period is one year, in a monthly model a period is one month.
Days	None	X	X	Days are consistent across all model time frames and are automatically adjusted to the number of days in the calendar month and year (in a leap year, February has 29 Days).
Other	None	X	X
Period	Date	X	X	A specific period.	February, 2012
Day	Date	X	X	A specific day.	February 14, 2012
Enumerated Type	Drop Down List	X		A selection list, with each item assigned a unique constant value, for use in formulas.	Jan has a value of 1, Feb has a value of 2, etc.. A conditional expression a mathematical expression that follows the form:if x is true, do this, otherwise that. Also known as If-Then-Else statements can be written that if the list item selected has a value of 2, to return the desired value for February.
User Defined	None	X	X	As specified.

The precision for an FO constant can also be set for reporting purposes in whole units, tenths, hundredths, or thousandths.

Adding and configuring Constants in a FO Type

Constants can also be added via the Add button in the FO Designer for a FO Type.

Click on the on the Add button at the bottom of the FO Type panel, and select Constant.
Title the Constant
Enter a default value - This value will appear by default in any newly created FO Instance An FO Instance inherits all parameters and any logic(formulas) contained in the FO. Any change in the FO is immediately updated in all instances..
Add a Tool Tip - This will appear in any FO Instance by mousing over the title of the constant
Select the Units of the constant
For Precision (Reports), select the specific precision for this constant:

Report Default (default) - will be displayed in the level of precision designated in any report that contains this constant.

0 - Units - Whole units

1 - Tenths

2 - Hundredths

3 - Thousandths

4 - Ten Thousandths

5 - Hundred Thousandths

6 - Millionths

7 - Ten Millionths

8 - Hundred Millionths

9 - Billionths

Visibility specifies whether this parameter will appear in its FO Instances.

Tip: Sometimes it's useful to hide a line item that contains formulas only to simplify the interface for the model user The end user of the model, as opposed to the model designer. They, of course, could be one and the same..