A new method for simulation of general electrical circuits on parallel computing platforms is disclosed. Parallel simulation of general time-domain circuits that are represented by nonlinear/linear differential algebraic equations is accomplished by partitioning them into smaller subcircuits via a novel combination of the companion form representation of the given circuit and an efficient form of node splitting, during Newton Raphson iterations, at any time point. The new invention formulates the interface vectors between partitions, through purely binary vectors, leading to a high degree of parallelism, scalability and reduced computational and communication costs for synchronizing the solutions between various partitions. Parallel platforms considered can be diverse such as (including but not restricted to) multicore CPUs, distributed systems of computers. The new invention also provides for scalable parallel simulation of mixed-domain formulations, such as (including but not restricted to), integrated circuits, electronic packages, PCBs, electromagnetic modules, MEMS and optical components etc.