Using the Globals Window
Use global values to store information that does not change often, but you refer to frequently, as for example Company Name, or company-wide percentages used in the calculation of certain bonuses. You can use global values as variables in formulas by simply referring to the global value by name.
You can never change a global value using a formula. You change global values in the Globals window. Global values are datetracked so you can make date effective changes ahead of time.
Global values are available to all formulas within a Business Group.
To define a global value:
1. Set your effective date to the date when you want to begin using the global value.
2. Enter a name, data type (number, text, or date), and value. You can also enter a description.
Oracle FastFormula Overview
Oracle FastFormula Reference