That being said, I think the most appropriate usage is using one alpha symbol consistently so that would lead to using K, M and B. If you think there’s any possibility of your use of MM being confusing or being misinterpreted, you’re safer million mm writing out the numbers or using “millions.” The barred M was necessary because the Romans didn’t use zero, and they didn’t like using more than three identical letters in a row. If you can’t go above three M’s in a row, you can’t get to 4,000, which would be MMMM. In internet record keeping, for instance, CPM is the cost per thousand impressions of an internet ad.
Evaluation of Each Abbreviation
Million is generally abbreviated with a capital M as in Megabyte or just “mn”. Rather than use the barred M, however, accounting went with MM as an abbreviation for a million. For example, 1MM equals 1 million, $34MM equals $34 million and so on. From the link, it looks as if it was a French idea – échelle courte and échelle longue that was never universally adopted. In my youth, it was American and English billions, although billions Outsource Invoicing were such large numbers that they rarely got a mention anyway.
The heat exchange in chemical reactions is due to:
For instance, a company reporting $5,000,000 in revenue would simply state $5MM, streamlining the data for stakeholders who need to quickly grasp the financial health of the organization. Only use abbreviations on your resume when they are common and easily understood. Abbreviating “million” as “M” is fine, because recruiters can easily understand what you’re trying to say. Abbreviating “hundred” as “H” would be strange, because it’s not an abbreviation you’re likely to find anywhere else. It should not be considered legal, tax, investment, or financial advice.
- Abbreviating “million” as “M” is fine, because recruiters can easily understand what you’re trying to say.
- Another theory is that it is a misprinting of the Greek letter phi.
- Once you get above that amount, you’d say billion or trillion instead of using the numbers.
- All usage is either common or geared to a particular style guide.
- “MM” is an old-fashioned abbreviation, but it still sees some usage today.
- Read this complete guide on when and how to use common resume abbreviations.
What does M mean in banking?
- The finance term MM, denoting ‘Million’, is important due to its wide usage in financial documents, reports, and communications to represent large quantities of money.
- Unlike “million” and “billion,” avoid spelling out “thousand” — instead, use the whole figure.
- However, it’s important to ensure that the context of the abbreviation is clear, as in some cases “M” might mean “thousand” or “billion” instead of million.
- These regional variations highlight the importance of understanding local customs and practices when communicating numerical information.
- If it is in a science or mathematic context, 1m will always be acceptable because it creates less confusion and takes less time.
“mm” (which is usually kept in the lower case) is an old-fashioned abbreviation that doesn’t see much common usage. You’ll find that it’s mainly used in the energy sector, but it otherwise doesn’t get recognized. On the financials I see, it’s typically stated near the beginning that monetary units are $1000k (or sometimes $1k). Always use “K” to abbreviate thousands — never “M,” which is archaic and likely to cause confusion. Unlike “million” and “billion,” avoid spelling out “thousand” — instead, use the whole figure.
Inflation has made it so that a mere millionaire is only ‘well off’. If you scroll down, you’ll see that the graphic shows the UK as using the short scale. I’m not a professional in the finance world but I did major in Business Administration in https://hoangmainguyen.com/how-to-calculate-total-manufacturing-cost-formula/ college and took economics courses. If anyone uses that terminology it’s not used in the US or it’s pretty obscure. My personal usage is $10K to refer to ten thousand and $10MM to refer to ten million, and avoid the usage of the single “M” altogether.
- However, it’s always crucial to adhere to the specific guidelines of the academic institution, journal, or discipline you’re working within.
- The infinite money glitch episode highlights the risk that social media can amplify vulnerabilities discovered at a financial institution.
- Adhering to the prescribed industry style guide, if available, is a tried-and-true tactic that brings consistency to your work.
- “M” is the only acceptable abbreviation to use for “million” in UK English.
- Unfortunately, there isn’t a consistent approach to labeling units.
K comes from the Greek world “kilo” which means one thousand and is used in metric / decimal systems. I have worked in equity markets for 20 years and poor abbreviations drive me crazy. Regretfully, until the USA goes metric there’s going to continue to be problem with this. We don’t know for sure why the Romans used letters or why they chose the letters they did. One theory says the use of M was because Romans measured a mile as a thousand paces.