Defination of mm (million) – meaning, examples, conversion, notation

Definition of mm (million)

MM is the symbol used to represent numbers in millions where the symbol m is used as a thousand in Roman numerals and therefore mm is a thousand multiplied by a thousand which equals 1 million. Large companies often present their financial statements and other reports in numbers in the millions, that is, they use (millions of dollars).

False

MM Million Definition Process

MM is the abbreviation used to represent numbers in millions. Many financial institutions, banks, and large corporations use the abbreviation MM to represent numbers in the millions, and they find it very easy because it reduces the complexity of representing whole numbers. Traditionally, M has been used as thousands in Roman numerals, so MM is 1,000 * 1,000 = 1,000,000 i.e. a million. MM is widely used in the US oil and gas industry. M is an abbreviation of the Latin word mile, which means one thousand. Small mm refers to millimeters, and MM refers to millions. Sometimes, M, which means a thousand and MM, which means millions, create confusion in people’s minds. Now the thousand representation has been changed from M to K.

Examples of (million) million

Here are some examples to better understand the concept –

Example 1

Company A issued shares of $10 million each, with a value of $100. At the end of the year, earnings per share were $10. The authorized share capital of the company is $15,000,000 per share of $100 per share i.e. $1,500,000,000. Only $100,000,000 worth of shares were issued from them. Suggest to the company how to represent it.

solution

  • The authorized capital is 15,000,000 US dollars per share of 100 US dollars or 1,500,000,000 US dollars
  • Issued share capital of $10,000,000 per share of $100 or $1,000,000
  • Earnings per share is $10 per share

Presentation as is –

Example 2

The report containing certain information about Company C is given below, and is the same with the compressed number representing the situation.

Assets example

Determine whether the company can obtain the two required loans? Present it with explanations and represent it in multimillion dollar tabular form.

Solution

The company can get the full loan amount applicable to Asset 1 as the requirements of the bank are met.

But in the case of Asset 2, the company can obtain a loan of 4.5 million m3 against the applied loan of 5 million m3 according to the criteria of the bank.

Alternate encodings for MM (million)

The MM notation for the representation of millions is becoming less popular because it creates confusion between the representation of M and MM, while M stands for thousand. But due to the confusion between M and MM, alternate symbols are now used to represent a thousand and a million. To represent a thousand, K is used as an abbreviation, and to represent Million, Single M is taken as an abbreviation.

Million conversion table

The million conversions are explained in the following table:

Convert the shapes in the following table to millions and represent them again.

Sourse of Funds

Converting the above table in millions is less than (Million Dollars – Million)

Importance and use

Some of the importance are as follows –

  1. Millions are used by a large organization in representing their reports.
  2. Display in millions makes reading easy.
  3. With presentations in millions, the reader can easily understand a complex number as it appears in millions.
  4. Some official reports have made representation in the millions mandatory.
  5. Presentation in millions improves readability and makes complexity simple.
  6. Million is usually used to describe a large amount. For example, millions of people have been affected by the collapse of the economy.
  7. By serving in millions, the chances of errors are reduced compared to serving with whole numbers.

conclusion

MM is the abbreviation used to present in millions. The date is M represents the number thousand dollars in Roman numerals, and M is used to represent thousands, so MM is used as represented by millions where MM is equal to 1000 * 1000, ie it becomes 1 million. Whereas a billion is 1000 * 1 million, so a very large organization represents and holds their data in billions, while large organizations represent their data in millions. But as M and MM create confusion, people are starting to use the alternatives. Now to present in thousands, the word K is used, to present as million, the word M is used, and to present in billions, the abbreviation Bn is used.

Leave a Comment