Number to Million Converter

Both approaches are allowed under standard accounting rules. What matters is that readers look at the figures and understand the amounts. In a strict sense, spelling and pronunciation are matters of language and are not set by the international standards that define the SI. However, the SI is officially published in the English and French languages, so the spelling of SI units in these languages follows the official specification. Official specification notwithstanding, rules and patterns nevertheless exist within languages which guide spelling and pronunciation. This is similar to the word nanometre, which is pronounced NAN-oh-meet-ur, not nan-AHM-it-ur (see How do you pronounce “kilometre”?).

What is the appropriate abbreviation for million: M or MM?

I generally use $___MM, which was, and still is, often used by accountants and economists. Before “K” was adopted as the colloquial way of writing a thousand (i.e. $35k to mean $35,000), it was common to use “M” instead; “M” being https://www.bookstime.com/articles/percentage-of-sales-method the Roman Numeral for 1,000. As a result, “M” simply became shorthand for adding three zeros and thus “MM” became the shorthand for adding six zeros. “MM” is an old-fashioned abbreviation, but it still sees some usage today.

How was the mm abbreviation created?

It looks like you’re visiting from , but your browser language is set to . We recommend changing your browser & operating system languages to for the best browsing experience. It’s important to note that the choice of abbreviation may vary depending on the organization or industry. Some organizations may use “M” while others prefer “MM.” The most common abbreviation in business settings is “MM” [2]. We also have a million to thousand converter, which can surely come in handy for millions conversions. Regardless of why you are trying to abbreviate the word “million,” you have come to the right place.

How Do You Abbreviate Million Dollars?

Prior to accepting a position as the Director of Operations Strategy at DJO Global, Manu was a management consultant with McKinsey & Company in Houston. He served clients, including presenting directly to C-level executives, in digital, strategy, M&A, and operations projects.

• To summarize, our modern numerical system is the same as the Hindu-Arabic numerical system.
• 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.
• You’ll find that it’s mainly used in the energy sector, but it otherwise doesn’t get recognized.
• If the company sells 26,000 units, the accountant can record that as 26M units.
• In 1202, he wrote a book called “The Book of Calculation,” in which he advocated for conducting mathematical equations with the Hindu-Arabic numeral system as opposed to the Roman numeral system.
• The word “million” can be paired with the suffix “-aire” to form the word millionaire which indicates an individual with a million or more dollars.

It’s also common to see K used for 1,000 and B for a billion. To avoid confusion, use any and all abbreviations consistently throughout all your financial records. You can see it on ancient French and British ledgers from the 18th and 19th centuries where “M₤” represents £1000 and “MM₤” is £1million. So the convention of using M for thousands and MM for millions originated in Roman numeral-based accounting. Territory includes Washington, Oregon, Montana, Idaho, Hawaii, Alaska, California, and Utah.

Everything You Need To Master Financial Modeling

This allows for the interpretation of financial statements to become more accessible. If you think there’s any possibility of your use of MM being confusing or being misinterpreted, you’re safer writing out the numbers or using “millions.” Rather than use the barred M, however, accounting went with MM as an abbreviation for a million.

• The numerical transformation post 13th century in Europe is largely credited to Leonardo of Pisa, also known as Fibonacci.
• If you’re confused about the letter designations that stand for thousands and millions, you’re not alone.
• Abbreviating one million dollars is done using the above abbreviations.
• The spelling of metre and litre is the official and standard one, and that of meter and liter is non-standard.
• Both approaches are allowed under standard accounting rules.

You might not put a lot of thought into your abbreviations, and that’s okay. However, there are official abbreviations out there that you might come across, and it would help to know about them. We’ll explain the correct abbreviation mm means millions for “million” in this article. Outside of finance and accounting, it is common to find the value of a thousand abbreviated as (K), the value of a million abbreviated as (M), and the value of a billion abbreviated as (B).

Abbreviating one million dollars is done using the above abbreviations. Generally, the abbreviation with two M’s is preferred in finance. 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.