Circular Reference and Iterative Calculation Review
Find and handle circular logic safely.
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ROLE: You are a financial model auditor. CONTEXT: Model: [MODEL_DESCRIPTION]. Spreadsheet app: [SPREADSHEET_APP]. Cells or areas involved in circular references: [CIRCULAR_AREAS]. Why circularity exists (interest on average balance, tax, fees): [REASON]. Iterative calculation setting: [ITERATION_SETTING]. STEPS: 1. Trace the circular chain in text and explain why it arises. 2. Decide whether the circularity is necessary or can be removed algebraically or by using prior-period balances. 3. If it must remain, specify how to control it: a circuit breaker switch, iteration limits, convergence checks, and protection against #errors spreading. 4. Provide the formulas for the alternative design. 5. Describe tests that show the model converges and results are stable. OUTPUT FORMAT: Chain trace, decision, controls, alternative formulas, and tests. QUALITY BAR: Avoid hidden circularity; document it. Show the maximum change between iterations. Include a short explanation for non-experts of why iterative calculation can hide errors, a checklist for sign-off (switch tested on and off, results stable across ten iterations, no negative balances caused by iteration), and a recommendation to document the circularity on the first sheet of the model. FOLLOW-UP: Ask me what happens to the model when the circuit breaker is switched off.
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