It makes the most sense considering that “million” starts with the letter “M.” Most abbreviations follow this standard practice. We often find the Accounting Periods and Methods abbreviation (mm) on financial statements, which stands for millions. Unfortunately, this practice can occasionally cause confusion within the financial industry as multiple numerical abbreviations are used interchangeably within society. So, “10,000,000” could become “10MM” or “10M.” “10 million” is also acceptable, but don’t use “10mill,” which is overly informal — stick to the more common abbreviations. The word “million” is not a commonly abbreviated word, but its abbreviations still have their place. An abbreviation for million is most often seen in financial documents and paperwork.

What does MM mean for money?

A millimeter is usually the smallest unit you can measure using a regular ruler. Absent a lot of clarification, we can say that when utilized in bookkeeping records, MM implies millions. You can see this shortened form, for instance, on a Balance sheet, Income articulation, or some other monetary record of a business. The term MM is used in the finance world to denote one million and is a standard nomenclature used across the globe. It is commonly used in financial documents, contracts, and communication, especially those regarding large monetary amounts. It originates from the Roman numeral, M, for thousand, and MM is used to indicate one thousand thousands, which makes a million.

MM means in accounting

Writing currency amounts in their full, long-form text is done for very formal documents like legal contracts, or to eliminate any ambiguity for readers. But in most business situations, the shorthand “$2 MM” is sufficient. A monetary record is an amount of the resources your organization has and its complete total assets. The utilization of two m’s to mean millions is turning out to be more uncommon. Habitually, in money and bookkeeping settings now, an investigator will utilize k to mean thousands and a promoted M to signify millions.

• This is based off the Roman numeral “M,” which stands for 1,000, and MM, which is used to indicate 1,000,000.
• You’ll find that it’s mainly used in the energy sector, but it otherwise doesn’t get recognized.
• Our rigorous editorial process includes editing for accuracy, recency, and clarity.
• The “MM” abbreviation is applied to all whole number values, and can be used in financial statements, business headlines, investment summaries, and when discussing large amounts of money.
• A millimeter (abbreviated as mm and sometimes spelled as millimetre) is a small unit of displacement (length/distance) in the metric system.
• Million is generally abbreviated with a capital M as in Megabyte or just “mn”.

The Chicago Guide to Fact-Checking, 2nd Edition

In this context, “MM” serves as an abbreviation for “thousand thousands,” signifying a million. Although less common than “M,” “MM” is extensively used in certain industries, particularly in investment banking and specific regions such as Europe and parts of Asia. Aside from finance, you may also encounter the use of “M” in various other contexts. It is commonly employed in newspaper headlines, where limited space necessitates concise language.

What does MM stand for in finance?

Once you get above that amount, you’d say billion or trillion instead of using the numbers. The seven letters in Roman numerals are I, V, X, L, C, D, and M. These figures have values of 1, 5, 10, 50, 100, 500, and 1,000. You can use any of the above abbreviations for thousand options when referring to thousands in writing. At Old Republic Surety we seek to deliver transparency Catch Up Bookkeeping and clarity in our communications. If you’re looking to avoid the word million altogether, you won’t have much luck.

• I first encountered the MM designation when I received a quote for surety rates.
• Is answered in many ways and one f them is that mm means for Month.
• Internet advertisers are familiar with CPM which is the cost per thousand impressions.
• Consequently, MM is equivalent to stating “M increased by M,” which is equivalent to “multiple times 1,000”, which rises to (1,000,000).

Company

You won’t typically see the power of 10 rule applied to financial documents today. The Greek option is typically capitalized when multiple abbreviations are used for accounting purposes. Roman abbreviations are usually not capitalized when using this method (1MM vs. 1mm), but each firm has different standards they follow. The term “M” in accounting is the Roman numeral for 1,000. When two Ms are together (MM), it indicates 2,000 when using this methodology for expressing numbers. In modern accounting, MM is meant to represent one million.

How much is an M in money?

• If net income runs to $6,500,000, it goes on the books as $6.5MM.
• M also stands for money and is used to label various technical measures of money in the economy.
• Snapchat is an app which is used for chating, texting, sharing media.
• Most Western nations utilize Arabic numerals, Asian nations have their own computerized framework, and Arabic culture utilizes an alternate framework from traditional Arabic numerals.
• It is commonly used in financial documents, accounting, and stock market where space is a concern.

M means a thousand, so mm meaning MM is the sum if you multiply M by M, or 1,000 multiplied by itself equals 1,000,000. CFI is the global institution behind the financial modeling and valuation analyst FMVA® Designation. CFI is on a mission to enable anyone to be a great financial analyst and have a great career path. In order to help you advance your career, CFI has compiled many resources to assist you along the path. This guide will explore how the notation should be used, as well as alternative symbols that are used in practice. I have never seen min or mio used as an abbreviation for million.