This article continues the series of publications that describe in detail the process of development, research, and implementation of circuit modeling and machine vision mechanisms in industrial equipment for laser trimming of resistors in order to obtain products with better characteristics and increase the economic efficiency of the process. A circuit model of the process of laser trimming of film-resistive elements under the action of a measuring voltage source, as well as an algorithm for correcting this model during laser trimming, has been developed. The paper considers the principles of building a circuit model of film resistor cutting. The conductive resistive medium is defined with the component equations and the topology of the circuit model. A method of estimating the electric parameters of a resistor operating in the system with a measuring voltage source is shown. An equation system for the node voltages is defined, and the resistive layer parameters are analyzed as the circuit model structure changes during the cutting process.