Unfortunately, there isn’t a consistent approach to labeling units. The least ambiguous approach is to simply write them out in words, such as “$ thousands.” This is CFI’s recommended method, to avoid any potential confusion. Flight distance on American marketed flights or the base miles earned for travel on eligible partner marketed flights will count toward AAdvantage® Million Miler℠ status. Commodity money refers to assets that can be used in purchases, typically those in high demand or of standardized value, not just dollars.

These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in oureditorial policy. Full BioPete Rathburn is a freelance writer, copy editor, and fact-checker with expertise in economics and personal finance.

What Does The Spanish Phrase te Amo Mi Amor Mean In English?

Learn about the functions of money, which include medium of exchange, and the characteristics of money, which include durability and transportability. Many enjoy money and seek to earn it but know very little about how it is made or its role in society. Learn more about its definition, types, function, how and why it was created and why money cannot just be printed when countries are running out of it. For something to serve as money, it must be a)… As the interest rate decreases, the quantity of… But in 1974 we officially adopted the US practice of using “billion” to mean a thousand million. The word “milliard” has since gone out of use in British English.

For example, in proper form, we write 50 kg and not 50 kgs. The “s” is so obviously redundant—yet it remains present in grammar and speech. 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. The meaning of the word “million” is common to the short scale and long scale numbering systems, unlike the larger numbers, which have different names in the two systems.

Post Navigation

When business people read reports, and when recruiters read resumes, it’s very common to see something like this — $1M. It’s possible the M’s in the financial notation system are not actually Roman numerals, so much as abbreviations of the word “mille” . Its not just finance, oil industry also (ab-)uses MM for millions, in terms like MMBO and so on. A balance sheet is a sum of the assets your company possesses and its total net worth. Calculating assets is the addition of your liabilities and your equity. Your liabilities can include debts you owe, wages you’re paying your employees, benefits packages or rents you’re paying on current properties.

• The foundation has donated millions of dollars to charitable causes.
• This guide will, MM (or lowercase “mm”) denotes that the units of figures presented are in millions.
• I find that if one is working in the financial field MM is fine, the majority of people will know what you are talking about.
• Mil spelled out is the only measurement that uses an inch.
• Using m’s and M’s, US or UK billions and whatever else is quite dangerous unless one knows which formal or informal standards are being used/applied.
• So, when people write $8MM, it’s actually 8 thousand thousands, which means 8 million dollars.

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. ‘Million’ corresponds nicely to the existing metric/SI ‘mega’, which is abbreviated ‘M’ (‘m’ being ‘milli’, of course). Most of the people I’ve seen do it at work say they learned it when they studying English in China. This is still widely used in financial institutions, in my experience. Perhaps not on the public-facing side, however. Living in the U.S., I’m inclined to regard m as a thousand and mm as a million, and to treat m and M as the same .

In Other Languages

My suggestion is, lets decide what we are going to use globally so everyone understands and leave it at that so there is no confusion. Donna Svei, an executive resume writer and former C-level executive, retained search consultant, and CPA, authors all of AvidCareerist’s posts. I’ll confess that I’m not 100% sure how “MM” originally came to be used in financial and accounting notation. But it’s been used to mean “million” by way of “thousand x thousand.” If K and MM are used, it’s bad style because the symbols are being mixed up. But if M and MM are used, non-experts might not even be aware that M is a symbol for thousands and get confused. It seems like that the safest choice to ensure comprehension is to use K and MM, but something about mixing the symbols just doesn’t seem right to me.

Internet advertisers are familiar with CPM which does mm mean million is the cost per thousand impressions.

Not The Answer You’re Looking For? Browse Other Questions Tagged Abbreviations Symbols Or Ask Your Own Question

The only place I have seen it abbreviated is in the British newspapers with just the one ‘M’. Sometimes it, if my memory doesn’t deceive me, is used in lower case. I think it would be unwise to use MM to mean million outside of those industries, or parts of industries, where it is standard. In general use, one M will be more readily understood. I would probably use M to represent million. As always it would be important to know the context.

• Learn about the quantity theory of money, the equation of exchange, and explore how an increased money supply affects economic output.
• Yet, you need to meet the generally accepted accounting principles to communicate important information to stakeholders.
• And after reading this post, I think your advice to avoid abbreviating million is worth taking.
• Donna Svei, an executive resume writer and former C-level executive, retained search consultant, and CPA, authors all of AvidCareerist’s posts.
• Is a written abbreviation for words beginning with m, such as ‘minutes’, ‘married’, ‘male’, and ‘masculine’.
• When business people read reports, and when recruiters read resumes, it’s very common to see something like this — $1M.

Analysts of these companies will need to use conversion tables to accurately quantify and compare them to more sophisticated international operators. This is equivalent to the 10-K filing for U.S. companies and provides investors with oil and gas production and reserve statistics published with imperial measurements to allow like-for-like comparison. Assume a financial statement says 4,345 in thousands. Add a comma and three zeros to the end of the number. It just means that they rounded all the figures to nearest thousand dollars and skip the last three digits for simplicity. Was wrong in saying that my explanation, or the use of “mm” to represent “million”, somehow doesn’t jive with the SI system.

English Translation: Millones

See examples of commodity money observed in precious metals, tobacco, and edible agricultural products. There is a lot of paperwork involved in money and finance. Because of this, it is common to use abbreviations for various values and variables within this area. Thus, it is important to be familiar with various abbreviations within this area of study in order to perform accurate analyses and solutions. MCF is a conventional natural gas measurement that is used primarily in the United States, where the imperial measuring system is standard. If you are visiting our non-English version and want to see the English version of Million, please scroll down to the bottom and you will see the meaning of Million in English language.

As one discovers from the many variant opinions this topic generates significant misunderstanding. By placing the first occurrence of a given symbol in each article or presentation within parentheses you remove all doubt about what you mean.

Get unlimited, ad-free homework help with access to exclusive features and priority answers. Look up any word in the dictionary offline, anytime, anywhere with the Oxford Advanced Learner’s Dictionary app.

Please note that Million is not the only meaning of MM. There may be more than one definition of MM, so check it out on our dictionary for all meanings of MM one by one. The statements I’ve posted are irrefutably true and are supported by facts . Of course there is a very specific question at the start of the thread.

When To Use The Abbreviation

I would say ‘k’ is actually more common than using m for smaller trades. You will almost certainly get someone confirming your size if you say ‘I want to buy 20m’ because depending on the desk a 20,000 trade and 20,000,000 trade are equally likely.

The SI system has nothing to do with the subject and contains no information responsive to the original post. I have merely cited it to disprove those who feel that ‘mm’ is not acceptable abbreviation because it’s not contained in the SI. It’s not contained in the SI because the SI does not regulate the simple abbreviations of words in any language.

The Latin numeral MM is frequently used to designate that the units used in presenting information (financial and non-financial) are in millions. The example below shows how figures can be portrayed in millions. So, when people write $8MM, it’s actually 8 thousand thousands, which means 8 million dollars.

• For example, an annual salary of $60,000 might appear as $60k instead of $60M.
• The material at this site will be updated from time to time.
• Sad to learn it was standard in that industry that M was a thousand.
• Honestly I think global unity is very unlikely.
• Of Company is $15,000,000 shares of $ 100 each i.e. $ 1,500,000,000.
• In these guides, there are typically six specific conversion factors for natural gas .

Author: Mary Fortune