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word problem What does it mean when something says in thousands Mathematics Stack Exchange

25May

In finance and accounting, MM (or lowercase “mm”) commonly denotes that the units of figures presented are in millions. In this context, 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). Rounding the financial data down makes reading the financial statement easier. With a page full of numbers, adding the extra digits creates potential issues for misreading the information. For example, reading $122,232,233 next to $122,322,322 can lead to more errors than $122,232 and $122,322. Shortening numbers makes it easier for report readers to scroll through the numbers quickly to extrapolate data and reduces the chance for error.

This contribution refers to the amount a jurisdiction should now be setting aside to fund the cost of future retiree benefits. Following the Pay As You Go approach insures that retirement health care benefits of today’s employees will be paid by future generations of taxpayers. Importantly, the ARC is intended merely as a reference number or target, reflecting that amount that should be set aside and invested, annually, if a given jurisdiction is serious about liquidating the unfunded liability over the period established. In this sense, it is not a required or compulsory contribution as it would be under the terms of most Pension obligations. Under GASB 54, jurisdictions were required to begin recognizing and reporting their annual progress in meeting their projected liquidation schedule for converting this liability into a formal balance sheet entry. To date, however, jurisdictions are only required to expense that portion of the ARC which they actually fund.

  • This may occur when an aircraft changes its position within a specific airspace or when transitioning from one airspace to another.
  • Financial statements follow the same format regardless of the size of the company.
  • This issue is particularly crucial when you compare a large company with a smaller one.
  • Effective with GASB ruling number 72, this term has been redefined as the Actuarially Determined Contribution (ADC).
  • From its literal definition to its figurative meaning and implications, this article will explore the concept of tens of thousands in-depth and provide a comprehensive overview of the term.

In the United Kingdom, the Judicature Acts merged the courts of equity (historically based in England’s Court of Chancery) with the courts of common law, and as a result the concept of fiduciary duty also became available in common law courts. Understanding what tens of thousands means can be beneficial in various situations, such as discussing population sizes, accounting for large sums of money, and even talking about time. Its holiday season sales from October 2000 to December 2000 are likely much different from those of the company that reports from January 1, 2001, to December 31, 2001, because those results include sales after September 11, when the economy slowed considerably. However, the first company’s balance sheet for September 1, 2001, to August 31, 2002, shows the full impact of the attacks on its financial position. Stack Exchange network consists of 183 Q&A communities including Stack Overflow, the largest, most trusted online community for developers to learn, share their knowledge, and build their careers. When an aircraft is cleared for takeoff, the pilot enters the assigned squawk code into the transponder, which then sends out a signal to the ATC radar system.

An unfunded mandate is perhaps best described as a government imposed requirement, restriction or regulation which results in additional direct or indirect costs for the employer or taxpayer. As example, recent government legislation governing waste water discharge requirements has placed heavy burdens on many local municipal utilities and hence local taxpayers. The scope and range of such legislation ranges from healthcare mandates, to air pollutions limitations, to automobile mileage requirements. In virtually every instance, the consequence of unfunded mandates is the imposition of new costs which must either be absorbed by the operator, or passed on to the consumer or taxpayer.

Such liabilities are generally considered as ‘Trade or Accounts Payables’ and classified as Short Terms liabilities. Examples include routine purchases of goods and services, which create Accounts Payable, that are generally paid in the following month. We can expect to hear more about this eroding category of government investments. Effective with GASB ruling number 72, this term has been redefined as the Actuarially Determined Contribution (ADC). We read from left to right, so we start with the thousands place value group on our chart.

Nothing in this article or on this site, which is Mr. Kennon’s personal blog, is intended to be, nor should it be construed as, investment advice, a recommendation, or an offer to buy or sell a security or securities.

Other Idioms and Phrases with thousand

The place value of a digit is determined by multiplying its value by the place value of its position. This phrase can also be used to describe a population size, typically referring to groups of people with populations greater than 10,000. So, when someone says that something is in the tens of thousands, it could actually mean anything between 10,000 and 99,999. There are two ways to describe multitudes – in their hundreds/thousands/millions or by the hundreds/thousands/millions. With more than 15 years of small business ownership including owning a State Farm agency in Southern California, Kimberlee understands the needs of business owners first hand. When not writing, Kimberlee enjoys chasing waterfalls with her son in Hawaii.

  • Rounding the amounts on a company’s financial statements means dropping the less important digits in order to emphasize the most important digits.
  • To show you how economic conditions can make comparing the balance sheets of two companies difficult during two different fiscal years, consider an example surrounding the terrorist attacks on September 11, 2001.
  • Long term liabilities are another category of liabilities and generally refer to formal borrowing arrangements where the terms of repayment extend beyond more than one year.

Unfortunately, this in not the system currently being followed by agencies of the government at federal, state or local levels. The difference is that “hundreds of thousands of” means “at least 200,000”, but probably more. It’s vague but huge (relatively), but “hundreds and thousands of” is illogical and semantically untenable. It is important to note that this sentence does not specify a specific number, as it could range from ten thousand to ninety-nine thousand. This sentence is a great way to express the size of a large crowd or gathering. In summary, the difference between ten thousands and tens of thousands is the place value of the number.

What does it mean when something says (in thousands)

Whether you are talking about the number of people in a large crowd, the amount of money in a large budget or the number of items in a large inventory, the phrase tens of thousands can quickly and effectively convey the size of the numbers being discussed. Tens of thousands is a great way to emphasize a number that is too large to grasp in its entirety. When you need to convey a large amount of something, tens of thousands can provide the necessary emphasis without being too specific. One of the most common questions is whether it is ten thousands or tens of thousands? To understand the difference between these two terms, we must first understand the concept of place value.

Why is Rite Aid facing opioid lawsuits?

I know the company I’m researching makes more than 26 million in sales, so 26 million would not be the correct reporting. The Biden administration has used the parole authority at an unprecedented scale as part of its effort to divert migration away from the U.S. southern border. Many immigrants with U.S. family members often have to wait income statement accounts years — and in the most extreme cases, more than a decade — for family-based visas to become available. “Establishing this process for certain Ecuadorian nationals will ensure more families can access lawful pathways rather than placing themselves at the mercy of smugglers to make the dangerous journey,” Mayorkas said in a statement.

What does the phrase thousands and thousands mean?

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. Military aircraft also use squawk codes, but they may have specific codes designated for military operations. For example, squawking code 7700 indicates a general emergency, while code 7600 is used to indicate communication failure, and 7500 signifies aircraft hijacking. These emergency codes help ATC to prioritize and coordinate necessary assistance.

For example, if you were trying to describe the population of a city, you could say it has tens of thousands of inhabitants rather than saying it has 76,945 inhabitants. A million is a number with six zeroes, representing an incredibly large amount. For these reasons, it is no surprise that people often say tens of thousands instead of using a figure. This can be useful in situations where the speaker wants to provide a general sense of the size of the crowd or the amount of something without getting too bogged down in the details.

This code acts as an identification tag for the specific aircraft, allowing ATC to distinguish it from other aircraft in the vicinity. Squawk 4000 specifically refers to one of the thousands of possible codes that can be assigned to an aircraft. A fiduciary is a legal or ethical relationship of trust between two or more parties. One party, for example a corporate trust company or the trust department of a bank, acts in a fiduciary capacity to the other one, who for example has funds entrusted to it for investment.

At it’s more extreme, it is possible to find annual reports issued by the government which report summary numbers in “millions of dollars” – in which case $1 would equate to $1,000,000. The first parts to notice when looking at the financial statements are the dates indicated at the top of the statements. You need to know what date or period of time the financial statements cover.

What is the purpose of using squawk codes?

This information is particularly critical when you start comparing results among companies. You don’t want to compare the 2012 results of one firm with the 2011 results of another. An annual report helps a business owner understand the health of his company and determine areas of growth or possible reduction. A complete annual report consists of the cash flow statement, balance sheet and income statement. In addition to the family reunification programs, the administration has created two sponsorship initiatives that have allowed hundreds of thousands of Cubans, Haitians, Nicaraguans, Venezuelans and Ukrainians to enter the U.S. under the parole authority. It is also using the parole law to process 1,500 asylum-seekers along the U.S.-Mexico border each day who secured an appointment to enter the country through a phone app.

The final category of government liabilities is a category defined as Unfunded Liabilities or unfunded obligations. And, it is at this juncture that Government standards for reporting of liabilities substantially departs from commonly accepted accounting rules as practiced in the private sector. Sometimes offered as an optional method of employee compensation in which a portion of an employee’s current compensation is withheld and shifted from current compensation to future, or deferred compensation. Such programs can benefit both the employer and employee by reducing the employer’s current reported expenses, while allowing the employee the opportunity to defer receipt of taxable income until future periods. When reviewing government issued financial reports, it is important to keep this practice in mind.

In a fiduciary relationship, one person, in a position of vulnerability, justifiably vests confidence, good faith, reliance and trust in another whose aid, advice or protection is sought in some matter. In such a relation good conscience requires the fiduciary to act at all times for the sole benefit and interest of the one who trusts. The use of the phrase tens of thousands is a powerful one and has many useful applications. Its ability to convey large numbers without having to provide exact figures can help to simplify communication and put a more concrete image in the minds of readers. In conclusion, the phrase tens of thousands is an excellent way to describe large numbers in a concise and easily understandable manner.

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