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#94526 - 07/07/03 04:31 PM
Abbreviation for One Thousand
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Power Poster
Joined: Dec 2002
Posts: 4,619
SC
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We're having a discussion about using M vs. K to indicate thousand. Does anyone know the origin and the proper usage?
Thanks
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#94527 - 07/07/03 04:35 PM
Re: Abbreviation for One Thousand
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Platinum Poster
Joined: Mar 2002
Posts: 945
Kentucky
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Well, in the old school, M was always used. (Roman numeral for 1000.) Somewhere down the line, it changed to K (for kilo) around the early '90's. Now the M is usually used to designate "million." I don't think it matters much which you use, I'd just be sure everyone is doing things consistently throughout your organization.
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#94528 - 07/07/03 04:36 PM
Re: Abbreviation for One Thousand
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Joined: Oct 2000
Posts: 10,202
Toano, VA
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"M" is the Roman numeral designating 1,000 and can be used as readily as any other Roman numerals.
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#94529 - 07/07/03 04:41 PM
Re: Abbreviation for One Thousand
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Posts: 40,766
Turnpike Exit 10
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M is the Roman numeral for 1000. I think the "K" signifies 1000 in the metric system. Maybe herein lies the confusion. OK, brighter bulbs, please step forward...
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#94530 - 07/07/03 04:50 PM
Re: Abbreviation for One Thousand
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10K Club
Joined: Oct 2000
Posts: 10,202
Toano, VA
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Since there can be reasonable differences of interpretation about the meaning of these symbols, you should either avoid them or provide a footnote such as " 'K' represents 1,000."
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#94531 - 07/07/03 04:50 PM
Re: Abbreviation for One Thousand
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I read an article that differentiated when you should use M and when you should use K. There were very specific reasons that made total sense to me (at the time) but now I can't remember what they are
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#94533 - 07/07/03 05:08 PM
Re: Abbreviation for One Thousand
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Thanks everyone.
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#94534 - 07/07/03 05:33 PM
Re: Abbreviation for One Thousand
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Platinum Poster
Joined: Nov 2002
Posts: 624
Texas
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K as used in your example is commonly used regarding denominations as an abbreviation for kilo which represents the 1,000 multiple of a unit. Therefore it would not be incorrect to abbreviate $2,000 by using 2k which means 2 x 1,000.
M is the roman numeral for 1,000. Roman numerals do not go beyond 1,000. To extrapolate to millions, a bar is commonly placed over the M indicating multiply by 1,000. Therefore, 2M could be used to represent 2,000 or 2M with a bar over the M could be used to represent 2 million.
Either one can be used to represent 1,000, just stay consistent.
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#94535 - 07/07/03 05:44 PM
Re: Abbreviation for One Thousand
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Power Poster
Joined: Aug 2002
Posts: 7,353
Anchorage Alaska
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The standard at BofA was M for 1,000 and MM for 1,000,000. (where I was trained as a lender) I've seen this at three financial institutions in the commercial and small business loan areas as well as private banking. K's are typically used by newer lenders (in my experience) in branch banking, but most commercial staff still use M or MM. I can't say I've seen anyone use M for million in my experience, but now that you've mentioned it, I'll probably have some chowder head break the mold and use it here to confuse my reviews of the files ![](/ubbthreads/images/graemlins/tongue.gif) I've always used M or MM which was taught to me in commercial lending school about 1MM years ago.
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#94538 - 07/07/03 06:39 PM
Re: Abbreviation for One Thousand
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Joined: Nov 2002
Posts: 624
Texas
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I don't think there is a "defined" difference of when to use which term, only as T has implied, "where the base unit is understood". I have seen MM used to abbreviate millions which is based on Roman numerals using an algebra computation, such as $2,000,000 is $2MM (2 x 1000 x 1000). Getting technical, proper representation using roman numerals would be simply MM with a bar over it. But in the financial industry it is commonly understood that M represent 1,000 and MM represents 1,000,000.
However, in other industries such as the "tech world" M is commonly used and understood to represent 1,000,000. M in the metric system stands for Mega (1,000,000). So 1M, based on the metric system w/b $1,000,000.
So, both K and M can be proper. Usage depends on whether you are thinking "roman numeral" or "metric". The key as previously posted is to be consistent and provide a footnote as to the base unit. If you use K for 1000, then M s/b 1,000,000. If you use M for 1,000 then MM could represent 1,000,000, but properly M with a bar over it.
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#94539 - 07/07/03 08:13 PM
Re: Abbreviation for One Thousand
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Joined: Oct 2000
Posts: 27,763
On the Net
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I always thought that "M" and "K" were interchangeable for 1,000 (for reasons stated above) and blamed the lazy press for making "M" mean Million when they wrote headlines. (And "K" in computer terms is more accurately 1,024, if you were interested.)
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#94540 - 07/07/03 08:39 PM
Re: Abbreviation for One Thousand
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Gold Star
Joined: Nov 2001
Posts: 455
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M - thousand MM - million or K - thousand M - million B - billion Take yer pick...
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#94541 - 07/07/03 09:24 PM
Re: Abbreviation for One Thousand
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Platinum Poster
Joined: Nov 2002
Posts: 624
Texas
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Actually, 1 billion using the metric system would be "G". I use it all the time balancing my savings account! ![](/ubbthreads/images/graemlins/grin.gif) But B works for me too, 'cause you may need G for Gazillion Trillion! ![](/ubbthreads/images/graemlins/wink.gif) And that brings up another 1,000 abbreviation - "Hey Lefty, boss says a thousand g's if you snuff him out tonight"
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#94543 - 07/07/03 11:02 PM
Re: Abbreviation for One Thousand
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100 Club
Joined: Apr 2002
Posts: 215
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I once coined the word "trimagna" to explain the tendency of policitians and economists to put money on a logarithmic scale, something like the Richter scale.
Their counting sequence goes "million, billion, trillion", emphasizing every third order of magnitude.
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