I have had the same dilemma and come to the conclusion that using k for thousands and MM for millions is a reasonable and pragmatic thing to do. 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. I have gym bookkeeping 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.
- By effectively utilizing abbreviations like “M” and “MM,” you can convey numerical information quickly, concisely, and accurately.
- One theory says the use of M was because Romans measured a mile as a thousand paces.
- Regardless of why you are trying to abbreviate the word “million,” you have come to the right place.
- This is particularly important in cross-border transactions and investments, where accurate financial information is crucial for decision-making.
- We still use Roman numerals for some accounting methods, while large figures are designated by the Greek alphabetic equivalent of the specific term.
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In fact, the largest number with a single-word name https://granitodepot.com/2022/03/14/understanding-cash-accrual-and-modified-methods-of/ in ancient Greek was 10,000. From myrias we get the English word myriad meaning “an extremely large number or amount”. The ancients also had the “myriad myriad” (10,000 × 10,000) or one hundred million. You can use any of the above abbreviations for thousand options when referring to thousands in writing. The financial world uses “K” when referring to “per thousand dollars”.
Why do some people use MM instead of M when referring to million (currency)?
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. If the company sells 26,000 units, the accountant can record that as 26M units.
Where Does the mm Abbreviation Come From?
M1, M2 and M3 are measurements of the United States money supply, known as the money aggregates. M1 why is million mm includes money in circulation plus checkable deposits in banks. M2 includes M1 plus savings deposits (less than $100,000) and money market mutual funds. Billion is typically abbreviated as “B”, while million is abbreviated as “M”.
(This is common in financial uses.) I would also add that the context of the sentence would add to the meaning of the abbreviation used. The best (and most common) way to abbreviate millions on a resume is “MM.” It’s clear and easy to understand, which is the key to successfully abbreviating numbers. You can also use “M.” This has historically been used to mean thousand, but is rarely used that way anymore, so it’s unlikely to cause confusion. For example, in an investment report, you might see values like ‘$5MM’ to indicate five million dollars. This abbreviation is particularly useful in contexts where space is limited, such as on charts or graphs. Financial and accounting statements historically used a different approach to abbreviating thousand and million.
