  Although different approaches to model a polarimeter's accuracy have been
described before, a complete error budgeting tool for polarimetric systems has
not been yet developed. Based on the framework introduced by Keller & Snik, in
2009, we have developed the M&m's code as a first attempt to obtain a generic
tool to model the performance and accuracy of a given polarimeter, including
all the potential error contributions and their dependencies on physical
parameters. The main goal of the code is to provide insight on the combined
influence of many polarization errors on the accuracy of any polarimetric
instrument. In this work we present the mathematics and physics based on which
the code is developed as well as its general structure and operational scheme.
Discussion of the advantages of the M&m's approach to error budgeting and
polarimetric performance simulation is carried out and a brief outlook of
further development of the code is also given.
