What Does “MM” Stand for in Dollars?

SOX (The Sarbanes-Oxley Act) – A law enacted in 2002 to improve the accuracy and reliability of financial information reported by public companies. PP&E (Property, plant, and equipment) – Company’s physical assets used to produce products or provide services. PBC (Professional body corporate) – A type of business entity used in certain countries outside the United States. IRS (Internal Revenue Service) – The government agency responsible for administrating the Internal Revenue Code. GCI (Gross carrying amount) – The total cost of an asset, less any depreciation or amortization that has been recorded. FIFO (First in, first out) – A method of inventory accounting that assumes that the first items to be added to inventory are also the first items to be sold.

Where Does the mm Abbreviation Come From?

BVPS (Book value per share) – This refers to the per-share book value of a business based on the shareholders’ equity. BR (Balance rate) – The interest rate charged on a loan or note when the debt balance is not paid in full. BO (Business organization) – The term refers to a company, partnership, or sole proprietorship. ALCO (Asset-liability committee) – A committee of a bank’s management that reviews and approves the bank’s lending and borrowing policies.

For Individuals

• NET (Net income) – A measure of a company’s profitability calculated by subtracting its expenses.
• CDS (Credit default swap) – A financial contract that protects against the default of a debt issuer.
• For instance, if a teacher were discussing a budget, mistaking “MM” for “M” could significantly alter the figures involved.
• Once you get above that amount, you’d say billion or trillion instead of using the numbers.
• It would be bad form to mix K and MM because they are two different systems of notation.
• The problem with M is that depending on the audience it can mean either thousands or millions.

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. Some abbreviations for million options may surprise you, as is also true for some of the other large number abbreviations. In fact, the largest number with a single-word name in ancient Greek was 10,000. From myrias bookkeeping we get the English word myriad meaning “an extremely large number or amount”.

Accounting Abbreviations

In written documents and reports, using ‘M’ saves space and helps avoid confusion. When in doubt, assume ‘M’ always signifies a million, unless stated otherwise. 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. Does not make any guarantee or another promise as to any results that may be obtained from using our content. No one should make any investment decision without first consulting his or her own financial advisor and conducting his or her own research and due diligence.

I was told my rate would be $2M per year to deliver $1MM in protection. The Indian numeral system is slightly different from what Western countries use while incorporating Arabic numerals. You won’t typically see the power of 10 rule applied to financial documents today.

• Thankfully, that conversation let me understand a future one where I was given quotes for a single and an aggregate line of authority.
• Nothing on this page, any of our websites, or any of our content or curriculum is a promise or guarantee of results or future earnings.
• MM is 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.
• When in doubt, assume ‘M’ always signifies a million, unless stated otherwise.
• ROS (Return on sales) – The percentage of a company’s revenue earned as profit.
• DMT (Debt management team) – This entry in our accounting abbreviations list refers to the team responsible for managing a company’s debt.
• What matters is that readers look at the figures and understand the amounts.

However, there has been a growing tendency to use K as the symbol for thousands instead of M. Z-score mm in accounting (Also known as a standard score) – A measure of a company’s financial stability calculated by considering various financial ratios. PLC (Public limited company) – A business entity similar to a corporation but has fewer restrictions on the number of shareholders it can have. IPO (Initial public offering) – The process by which a company sells shares of its stock to the public for the first time. GPM (Gross profit margin) – The percentage of revenue a company earns after accounting for the cost of goods sold. GL (General ledger) – The principal accounting record of a company, which contains all of its financial transactions.

Categorised in: Bookkeeping

This post was written by vladeta