I dont know the exact formula. But its the most important part of any spell. it takes precedence over the base damage of the spell in the tooltip itself.
Its easiest to look at it the same way you would look at phyiscal damage and attack power. On difference is your skills use dps%, which is a modifier. Just recently in chapter 4 spells were getting a modifer to conpensate (x INT in spells. Some spells dont have it). So its all mostly balanced now but thats getting further than what needs to be.
Just remember damage takes precedence over all your skills. THen look at the attack stats, since that basically tells you how much of that damage hits pass the opposing defense.
Roleplayer in Govinda
Leader of the roleplay guild Immortal Covenant
Reagen -- 50/39 K/M-- Govinda
Xushin -- 29/54 W/M-- Govinda
Foroque -- 29/27 M/Wd --Govinda
Olan -- 22/27 P/K -- Govinda
Shivaa -- 40/40 P/S -- Govinda
Shayn -- 50/37 R/M -- Govinda
Raiden -- 22/0 M/x -- Govinda
Dieiyna -- 38/38 D/W -- Govinda