Common Abbreviations
Currently, when reading anything in finance, you will come across several variations of abbreviations for denoting amounts of money (thousands, millions, billions, etc...):
Metric System:
- d/D/da(deca)=101=$10=Ten
- h/H(hecto)=102=$100=Hundred
- k/K(kilo)=103=$1,000=Thousand
- M(mega)=106=$1,000,000=Million
- G(giga)=109=$1,000,000,000=Billion
- T(tera)=1012=$1,000,000,000,000=Trillion
- P(peta)=1015=$1,000,000,000,000,000=Quadrillion
- E(exa)=1018=$1,000,000,000,000,000,000=Quintillion
Roman Numerals:
- X=101=$10=Ten
- C=102=$100=Hundred
- M=103=$1,000=Thousand
- MM=106=$1,000,000=Million
- MMM=109=$1,000,000,000=Billion
- MMMM=1012=$1,000,000,000,000=Trillion
- MMMMM=1015=$1,000,000,000,000,000=Quadrillion
- MMMMMM=1018=$1,000,000,000,000,000,000=Quintillion
Simple Abbreviations:
- Th.=103=$1,000=Thousand
- Ml.=106=$1,000,000=Million
- Bn.=109=$1,000,000,000=Billion
- Tn.=1012=$1,000,000,000,000=Trillion
How We Should Write Abbreviations
Often times, you will see a mix between these different abbreviation types because people tend to forget the meaning behind them; as a result of this, you see mixes between 2 of them frequently...e.g.:
- "The total expenses this quarter were 475K bringing the total annual expense this year to 1.5mm"
- "The total expenses this quarter were 242M bringing the total annual expense this year to nearly 1Bl."
Instead of using arbitrary combinations of these abbreviations, we should just use the Metric System, as it is already used in the scientific community (and around the world for general measurements), and is also the shortest way to write these numbers.
Furthermore, the Metric System could be chained together just like the Roman Numerals if need be (with shorter abbreviations and more accuracy):
- KK(Metric)=MM(Roman)=106=$1,000,000=Million
- MM(Metric)=MMMM(Roman)=1012=$1,000,000,000,000=Trillion