A million is equivalent to the product of a thousand times a thousand. One million can be written as the number one followed by six zeros—1,000,000. You can use any of the above abbreviations for thousand options when referring to thousands in writing. 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.

What is the correct abbreviation for millions, billions and trillions in a financial context?

Inconsistency abbreviation for millions is a problem that creeps into the writing when the context of the abbreviation changes, the audience differs, or the need for the consistency slackens. There are several ways to abbreviate the word and no universally accepted convention for doing so. This article aims to address the issue of how to abbreviate million and provide guidance on how to consistently use the right abbreviation.

M vs. MM – What Is The Correct Abbreviation for “Million”?

As can be expected, trillions is therefore shorthanded by the letter T. Rather than writing $1,000,000, one can simply write $1M for one million dollars. This kind of abbreviation is particularly useful for more complicated numbers that contain decimals. Regardless of why you are trying to abbreviate the word “million,” you have come to the right place. In this article, we will teach you how to abbreviate the word and how to use the abbreviation for “million.” Let’s first understand what million means. To summarize, our modern numerical system is the same as the Hindu-Arabic numerical system.

Outside Examples of Million

• “M” is a commonly used abbreviation and is universally understood as representing million.
• Words such as a million, referring to numbers, are only abbreviated in circumstances where the reader is aware of the full meaning.
• “mm” (which is usually kept in the lower case) is an old-fashioned abbreviation that doesn’t see much common usage.
• But due to confusion between M and MM, now the alternative notations are used for representing thousands and millions.

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. Financial and accounting statements historically used a different approach to abbreviating thousand and million. If you do use these abbreviations, be sure to clearly define them in the text. You might not put a lot of thought into your abbreviations, and that’s okay.

a. Context Dependence

Abbreviations save both time and effort while communicating information, especially when it comes to numbers and quantities. Sadly, this almost the opposite of how the what does mm mean would define this term – for rather that paying for an expense in the present and reporting it as an expense in the future. Here, we’ll study the word million and explore its meaning, origin, and synonyms. Plus, we’ll abbreviate the word and provide examples where you can use the abbreviation instead of the whole word. You can also use the abbreviation “mil” in casual conversation. While the letter “k” is the most common abbreviation, there are a few different ways to abbreviate thousand.

The Authorized Share Capital of Company is $15,000,000 shares of $ 100 each i.e. $ 1,500,000,000. Just like a billion it can be used to express an exaggerated statement, meant to create a strong impression. The auditor believes that the $3m spent on water and electricity is an overstated figure. Test your knowledge of some of the most commonly misunderstood texting acronyms. Readers could easily interpret this as a $12 million loss, though the financial professional might mean $12,000.

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. Some abbreviations for million options may surprise you, as is also true for some of the other large number abbreviations. “MM” is an old-fashioned abbreviation, but it still sees some usage today. You might come across “mm” in scientific or engineering fields, where different values are required, and they can reach well into the millions as a unit. “mm” (which is usually kept in the lower case) is an old-fashioned abbreviation that doesn’t see much common usage.

• A million is equivalent to the product of a thousand times a thousand.
• “mm” is often left uncapitalized (though there are no specific rules that state which way it should be written).
• 1 million watts abbreviates to 1MW or “megawatt” and in geology, one million years ago is often abbreviated to “1 mya”.
• The MM abbreviation works whether the entry is in dollars, some other currency or millions of items or customers.
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For Representation of Thousand, K is used as an abbreviation, and for representing Million, Single M is denoted as an abbreviation. “mm” is often left uncapitalized (though there are no specific rules that state which way it should be written). It is Latin for multiplying one “thousand” by itself to create the “million” number. When it comes to abbreviating “million,” the most common error involves inconsistency.

How do you write 1.5 million?

Proofread your work thoroughly, focusing primarily on the use of abbreviations. Ensure that the context of the abbreviation is clear and that the abbreviation is suitable for that context. Let’s take a more in-depth look at how the use of abbreviations has changed over time and varies across different countries and industries.