What Should Be The Abbreviation For Million

What Should Be The Abbreviation For Million

million abbreviation mm

M is one of the standard prefixes in the SI system of units. It is used in many contexts and is familiar in specialist and lay contexts. Unfortunately, the “International System of Units”, or “SI” has nothing to do with this thread and doesn’t apply to my post—nor will anyone find an answer to the original question therein. ‘Jstanek’ was entirely correct in his/her posting–which was perfected with an indication that the term is widely used in the financial industry. The only place I have seen it abbreviated is in the British newspapers with just the one ‘M’.

The Report containing certain information of company C is given below, representing the same with the compact number representing mode. You can also use the abbreviation “mil” in casual conversation.

Should You Use Abbreviations?

Oil and gas standard is “$MM,” but if you have the room, always better to spell it out. Spelling million, billion, and trillion out helps non-financial readers understand the resume more easily. Donna Svei, an executive resume writer and former C-level executive, retained search consultant, and CPA, authors all of AvidCareerist’s posts. Let’s say you’re talking about sales growth of $1 million. If you use $1M, some of your readers might think sales grew $1,000 instead of $1 million. You go from being a hero to being perceived as an underperformer without even realizing it.

million abbreviation mm

I will say though, in the vast majority of cases, the context makes it clear that you’re talking about millions. So it’s not for lack of clarity, I just want to know if there is a definitive answer for this. Beyond where I opined that two posted answers are the best ones, I’m not aware of any single statement which I’ve posted that can be refuted with facts. I work in the reinsurance industry, and it is very commonplace to see MM written to mean million and M to mean thousand, when writing of money. Regardless of the differences between a symbol and an abbreviation, “million” is not a unit of measurement.

Definition Of M

Back to the SI, there are strict guidelines regarding acceptable format. They DO NOT use “abbreviations”; they use “symbols”—and are very clear on this. Symbols do not follow the rules of grammar, instead the rules of mathematic symbols, which are universal. On the basis of your statement, 99% of all English speaking …

  • ‘M’ abbreviation came from Mega and K for thousand and G for billion, and symbolize thousands.
  • If a financial statement has a lot of large figures, the accountant may simply dispense with abbreviations.
  • By writing “mm”, one is simply abbreviating a word that happens to be a number—they have merely abbreviated the Latin form of the word .
  • Taking the metric/SI tack also handily avoids the whole, “Multiple definitions of ‘billion’,” issue, though I’d be the first to admit that talking about gigabucks does sound odd.
  • You’ll find that it’s mainly used in the energy sector, but it otherwise doesn’t get recognized.
  • Even then, I don’t think this is applied universally, some use only one M in this and similar abbreviations.

Using kilos as an abbreviation for either is OK…and so is using mm for a million, depending on the audience, as written in my original post. “Most English Speakers would not recognize” the abbreviation along with most speakers of any other language. This is because most “people” don’t deal with millions of dollars often enough to need an abbreviation. Yes, you can post “MM” as an abbreviation for “million”. MM is a pretty standard abbreviation for Million. It comes from Latin “Mille” meaning “thousand”, so MM is a “thousand thousands” which equals one million.”MM” is widely used in the financial industry. In accounting speak, a written “MM” means a million, whether the accountant is referring to units, dollars, euros or shares.

Examples Of Incorrect Si

The “s” is the universal symbol and was likely chosen for its semblance to the letter s found at the beginning of the actual word in most of the Latin-based languages. Now that you know several large number abbreviations, you have access to several options you can use in your reports or other forms of writing. You may also find it helpful to review measurement abbreviations for common units. Expand your ability to communicate about quantities and amounts by getting to know various names and expressions for large numbers. For example, within financial statements, the industry-standard abbreviation is M for a thousand, while in everyday life, the abbreviation of K for a thousand is usually the acceptable one.

million abbreviation mm

I don´t know how these are used in English, but here we use M for thousands and MM for thousands of thousands, i.e., millions. As to “m3” (with the “3” as an exponent), it means cubic meters.

Alternative Notations For Mm Million

In the oil industry, an oil barrel is 42 US gallons. I’ve worked in banking, PE and now for a large pharma. CIMs, presentations, we ALWAYS abbreviate million and billion. We can’t even agree on what a billion is numerically let alone abbreviated. https://www.bookstime.com/ (see attached regarding the long system vs the short system.) And before everyone gets upset just remember these numbers existed well before the war of independence. I am an old HR professional and I have never seen MM used.

  • Beyond that, if you have a young HR professional doing the first review of your resume, they might not understand it all.
  • The Report containing certain information of company C is given below, representing the same with the compact number representing mode.
  • “M” is the official abbreviation used whenever a million units of something are requested.
  • Those rates are expressed per thousand and the MM denotes millions.
  • It comes from Latin “Mille” meaning “thousand”, so MM is a “thousand thousands” which equals one million.”MM” is widely used in the financial industry.
  • Now natural gas and other energy resources can be equally compared to the energy from one barrel of oil.

M means a thousand, so MM is the sum if you multiply M by M, or 1,000 multiplied by itself equals 1,000,000. You will also have access to many other tools and opportunities designed for those who have language-related jobs . Participation is free and the site has a strict confidentiality policy.

Neither dictionary shows the meaning “millions” for “mm,” either. Whether the topic is significant sums of money or a massive quantity of something, it’s common to use abbreviations when writing out large numbers in text. There are a few different ways to abbreviate large numbers. Some abbreviations for million options may surprise you, as is also true for some of the other large number abbreviations. The standard unit of measure is dollars per million BTU’s . As a result, reserves get reported in mmBtu as well.

M Vs Mm Abbreviation

I feel like it used to show superiority or present another barrier to people outside of finance looking in. When you’re reporting, be aware if you’re documenting internal or external expenses, so you can organize your workflow appropriately. Financial reports forecast the future of the company, so it’s important to keep that mindset to avoid focusing too much on the past or present.

million abbreviation mm

However, there are official abbreviations out there that you might come across, and it would help to know about them. We’ll explain the correct abbreviation for “million” in this article.

At Old Republic Surety we seek to deliver you transparency and clarity in our communications. If you see an abbreviation that is confusing what is mm or unclear, please reach out to your local underwriter or branch for clarification, even if you are just asking for a friend.

The goal of abbreviating large numerical values is to create financial statements that appear to be more simple and concise. This allows for the interpretation of financial statements to become more accessible.

When I first left college, I was shocked and appalled at some numbers I was reviewing in a pitch book since I perceived $M as millions. Those who can’t, post threads about how to do it on WSO. Because we have multiple options to choose from when selecting an abbreviation, it is important to use context to make the proper selection. To summarize, our modern numerical system is the same as the Hindu-Arabic numerical system. However, our abbreviations are a concoction of multiple cultural legacies ranging from Rome, Greece, India, China, and Arabia. Often, a thousand is still abbreviated as K instead of M in contemporary society. The numerical transformation post 13th century in Europe is largely credited to Leonardo of Pisa, also known as Fibonacci.

It is calculated by dividing total earnings or total net income by the total number of outstanding shares. The higher the earnings per share , the more profitable the company is. One thing to consider is that when writing about large amounts of money, the words “million” or “billion” are often left out altogether, as are superfluous zeroes. It’s then up to the reader to note the context, with the document stating the place value once at the beginning and not again.

Western civilization has had two powerful influences — the traditions of the Greeks and the Romans, and there is often conflict. The Greeks would refer to the god of the sea as Poseidon, where the Romans would call him Neptune. For the Romans, the god of wine would be Bacchus, and for the Greeks it would be Dionysus. These differences carry themselves into many parts of our culture, including financial analysis. The points above are not subject to a house writing style nor limited to scientific or technical contexts, but are the only way to properly use the SI in any writing context.

This cannot be argued–there is no “maybe this” or “maybe that”. They do NOT use abbreviations, which are entirely different than symbols. In summary, an abbreviation is the shortening of a word by omitting letters. Get instant access to lessons taught by experienced private equity pros and bulge bracket investment bankers including financial statement modeling, DCF, M&A, LBO, Comps and Excel Modeling.

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