Why do bankers use M instead of K?

M and MM are roman numerals where M is one thousand and MM is intended to denote "one thousand thousands." K comes from kilo which is the unit prefix in metric systems to indicate "times one thousand." The corresponding prefix for million is M. So you should use either K and M or M and MM, but do not mix the two.

What does M mean in banking?

Frequently, in finance and accounting, an analyst will use k to denote thousands and a capitalized M to denote millions. For example, $100k x 10 = $1M.

Why do banks use M and MM?

Many financial institutions, banks, and large companies use the abbreviation MM to represent the figures in millions. They found it quite easy as it reduces the complexity of representing the whole numbers. Traditionally M was used as thousands in roman numbers so MM is 1,000 * 1,000 = 1,000,000 which is 1 million.

What is the difference between M and K?

M is the Roman numeral for 1,000 but in the metric system M designates the prefix mega- which is a million. For example MW is a megawatt. On the other hand m designates milli- or one thousandth so mm is a millimetre or 0.001 metres. To minimize confusion I would stick with K for a thousand.

Should millions be M or M?

The standard for million, is a capital 'M', unlike one thousand which is a small 'k'. 'm' in science and engineering stands for one-thousandth.

Banking Explained – Money and Credit

What does m stand for in money?

M is the Roman numeral for thousand and MM is meant to convey one thousand-thousand — or million. To take it further; one billion would be shown as $1MMM or one-thousand million.

What is the m meaning?

m is a written abbreviation for metres or , metre.

Does K mean OK?

K means "Okay" and "Kids." The abbreviation K is typically used as a way of shortening the abbreviation "OK" (meaning "Okay") still further. As with "Okay," the use of K indicates acceptance, agreement, approval, or acknowledgment. However, it may sometimes be interpreted as lacking enthusiasm.

Is there a space between number and m for million?

You need a space before million but not before m or bn. M or m? Under ISO 1000:1992/Amd 1:1998, which Australia and New Zealand adhere to, millions should be represented by M. However, according to the Australian Government's Style manual (2002), m is preferable to M as long as the context is clear.

How do you write $1 million on a resume?

If you're talking millions, use the word — $1 million. If you're working on a report or your resume, and you're desperate for space, use $1MM, not “M.” Again, it's understood that “MM” means million.

What does in millions mean on a balance sheet?

For example, if a billion-dollar company indicates that numbers are in millions, you see 1 billion represented as 1,000 and 35 million as 35.

How do you abbreviate thousands and millions?

Is thousands k or k?

The capital letter K is sometimes used informally to represent one thousand (dollars), especially in newspaper headlines. There is no space between the numeral and the letter K , as in 75 K . The letter K should not be used as an abbreviation for one thousand (dollars) in formal writing.

Is K capitalized for thousand?

The proper prefix to denote 1000 is a lowercase 'k'. The uppercase has become somewhat common but is indeed incorrect.

Does AM and PM have a space?

Occasionally computer programs encourage you to write “AM” and “PM” without a space before them, but others will misread your data if you omit the space. The nonstandard habit of omitting the space is spreading rapidly, and should be avoided in formal writing.

Why is billion abbreviated G?

With a number, "billion" can be abbreviated as b, bil or bn. In standard form, it is written as 1 × 10⁹. The metric prefix giga indicates 1,000,000,000 times the base unit. Its symbol is G.

Is Minnesota short for million?

Example of MM

Sales of $3,000,000 might be written as $3MM. I have seen one million represented by mn and also by m (both lower case). Hence, you might see $1,400,000 expressed as $1.4 million or $1.4MM or $1.4mn or $1.4m.

Is typing K rude?

According to the first page of Google results about 'texting K', society views receiving this message as akin to a one-letter insult. It's seen as something that we send when we're mad, frustrated, or otherwise want to put an end to a conversation. “K” is rude, dismissive, or cold.

What does a girl mean when she says Okayyy?

Etymology: Ok simply means to be in agreement or to proceed without problems and now saying Okayyyy can be a funny or rude way of agreeing with someone's statement. Can also be used in a way to make sure someone knows you're not actually Okayyyy because of the way you said it.

What is m and K in numbers?

What does '1K' or '1M' mean? In the digital world, 1K is used to refer to 1 thousand, and 1M is used to refer to 10 lakh. so when it says 18.5k it means 18,500. the letters act as a suffix to the numerals as a substitute for zeroes.

Should M for million be capitalized?

These three abbreviations are based on three different languages, ie, 'k' stands for kilo (a thousand in classical Greek), 'm' stands for mille (a thousand in classical Latin) and 'M' is the abbreviation for the English word million and is capitalized to distinguish it from 'm', a thousandth.

Why is thousand called grand?

The name 'grand' for $ 1,000 comes from a $ 1,000 banknote with the portrait of Ulysses Grant, 18th president of the USA. The banknote was called a “Grant”, which overtime became 'grand'.