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It makes the most sense considering that “million” starts with the letter “M.” Most abbreviations follow this standard practice. The use of two m’s to denote millions is becoming less common.
As a young banker in the mid-80s, I learned what had been taught for many decades before, that we abbreviate thousands in our analysis with the letter M. If we wanted to denote millions, we would show that as MM.
What does M mean in finance?
Angel number 1155 speaks of the ability to follow your intuition and heart in search of new opportunities and directions in life. The angel number speaks to the role of other people in holding you back from following your decisions. $MM simply because I am used to it now in my current company. 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.
- I was actually referring to the financial statements of corporations (e.g. a balance sheet, an income statement or a statement of cash flows).
- I used those abbreviations until I wrote this blog post and read all the comments.
- We’ll explain the correct abbreviation for “million” in this article.
- I’ve worked in banking, PE and now for a large pharma.
- Of Company is $15,000,000 shares of $ 100 each i.e. $ 1,500,000,000.
I was actually referring to the financial statements of corporations (e.g. a balance sheet, an income statement or a statement of cash flows). These financial statements usually run into the hundreds of millions or billions for publicly traded companies. While you say it is a “pretty standard abbreviation for Million,” it’s one which most English speakers would not recognize. Neither dictionary shows the meaning “millions” for “mm,” either. If you’re talking about money then ‘m’ is pretty much standard. If you’re talking about scientific measurement then it’s ‘M’. Other than this thread, I can’t say that I’ve ever seen ‘MM’ used for ‘million’.
Should M for million be capitalized?
In this example, we intentionally chose a piece of analysis that contained various different units, such as dollars and shares. When an analyst must present various different types of units, it is recommended to add a “units” column so that each item contains a label for easy reference. As stated above, MM is generally used in business to represent millions since the letter M by itself has historically meant 1,000. That said, if your organization uses M and it doesn’t cause confusion, you are free to use M to abbreviate one million. If you’re confused about the letter designations that stand for thousands and millions, you’re not alone.
They do NOT use abbreviations, which are entirely different than symbols. In summary, an abbreviation is the shortening of a word by omitting letters. To illustrate, even though you probably thought about 5 kilograms when you first read “5 kilos” above, I could have been referring to 5 kilometers. 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.
Mixing use of K for thousands and MM for millions
My group does $mm for millions but a single $B for billions. Can’t explain why, but I’ve just gotten used to it at this point. “mm” is an old-fashioned abbreviation that doesn’t see much common usage. what does mm mean You’ll find that it’s mainly used in the energy sector, but it otherwise doesn’t get recognized. “M” is the official abbreviation used whenever a million units of something are requested.
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How do you write a million dollars in short?
The standard unit of measure is dollars per million BTU’s . As a result, reserves get reported in mmBtu as well. We are on a mission to help you become better at English. As a group of experienced English writers, we enjoy sharing our knowledge in a language that everyone is able to understand. MmBtu is an old-fashioned measurement in physics. It was meant for energy, but it isn’t used much today.
- Regardless of why you are trying to abbreviate the word “million” you have come to the right place.
- Suggest to the company how to represent the same.
- However, when it comes to billion, we don’t really see G or MMM as the abbreviation for billion.
- I suspect people use MM/mm for the same reason, some guy just made a typo one day and it caught on.
- If the writer is going to use it, he should explain it first, unless he knows for certain that the audience he is writing for would understand it.
- Using M for million in that industry could be misleading.
- Back to the SI, there are strict guidelines regarding acceptable format.
M is the Roman numeral for thousand and MM is meant to convey one thousand-thousand — or million. To take it further; one billion would be shown https://www.bookstime.com/ as $1MMM or one-thousand million. Regardless of the differences between a symbol and an abbreviation, “million” is not a unit of measurement.
Honestly I think global unity is very unlikely. We can’t even agree on what a billion is numerically let alone abbreviated. (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.