The Roman numeral m means thousands, so mm is the sum if you multiply m by m, or 1,000 multiplied by itself equals 1,000,000. On a financial statement, you can put 1 million as 1mm to provide more clarity to your accounting department and senior management when you present these numbers to them.
What does $1 mm stand for? one million. In finance and accounting. This guide will, MM (or lowercase “mm”) denotes that the units of figures presented are in millions. …. Thus, MM is the same as writing “M multiplied by M,” which is equal to “1,000 times 1,000”, which equals 1,000,000 (one million).
‘M’ abbreviation came from Mega and K for thousand and G for billion, and symbolize thousands. Whereas using MM represents thousands of thousands, along with M for a thousand. For instance, you would have noticed how to denote $5 Million.
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