He is the sole balance sheet author of all the materials on AccountingCoach.com. For the past 52 years, Harold Averkamp (CPA, MBA) has worked as an accounting supervisor, manager, consultant, university instructor, and innovator in teaching accounting online. A common shortening of millimetre in spoken English is “mil”. This can cause confusion in the United States, where “mil” traditionally means a thousandth of an inch. You can use any of the above abbreviations for thousand options when referring to thousands in writing.

• For example, 1MM equals 1 million, $34MM equals $34 million and so on.
• Yes, “M” is accepted in formal business and financial writing.
• It has become less common due to the potential for confusion.
• The least ambiguous approach is to simply write them out in words, such as “$ thousands.” This is Corporate Finance Institute’s recommended method, to avoid any potential confusion.
• To avoid confusion, use any and all abbreviations consistently throughout all your financial records.
• If you’re dealing with mergers and acquisitions, bond issuances, or investment portfolios, it’s essential to be familiar with both “M” and “MM” to ensure accurate communication.

How Do You Abbreviate Million Dollars?

MM is mm meaning the symbol used for representing the numbers in millions, whereas the symbol m is used as thousand in roman numbers and so mm is thousand multiplied by thousand, which is equal to 1 million. Large enterprises often present their financial statements and other reports with the figures in the millions, i.e., and they use ($ MM). If a financial statement has a lot of large figures, the accountant may simply dispense with abbreviations.

Why do professionals abbreviate million as “M”?

Another theory is that it is a misprinting of the Greek letter phi. Legal E-Billing However, millions range from 1,000,000 to 999,999,999 so there can be a maximum of eight zeros if you are referencing a 100 million (100,000,000).

Which sectors commonly use “M” to abbreviate million?

• If, say, you use it for both units and dollars in the same document, separate the different categories so your readers don’t get confused.
• The word “million” is most often used in reference to money, but is also frequently used in exaggeration.
• Swap the word “million” for “mil” or “mm” to avoid redundant language but to still be specific in how large numbers you’re working with.
• Financial and accounting statements historically used a different approach to abbreviating thousand and million.

“M” is the official abbreviation used whenever a million units of something are requested. 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. I’ve found answers on the web but also got conflicting answers from financial professionals (coworkers). Stack Exchange network consists of 183 Q&A communities including Stack Overflow, the largest, most trusted online community for developers to learn, share their knowledge, and build their careers.

By effectively utilizing abbreviations like “M” and “MM,” you can convey numerical information quickly, concisely, and accurately. These regional variations highlight the importance of understanding local customs and practices when communicating numerical information. Here, we’ll explore the various application domains and provide insights to help you navigate the world of abbreviations effortlessly. Unlock your potential and accelerate your career with sought-after management and leadership skills.