Another quick accounting question

[DotheDamnTHing]

When a report states a figure x that is in millions of dollars, do you multiply x by a million to get the "real" number?

Thanks in advance

 

[MrPickins]

Originally posted by: DotheDamnTHing
When a report states a figure x that is in millions of dollars, do you multiply x by a million to get the "real" number?

Thanks in advance

I don't think that's an accounting question so much as a common sense question.

Yes, you do.

 

[Ns1]

No, you actually multiply it by 1000. I mean, are you serious?

 

[kstu]

you multiply by one thousand

 

[DotheDamnTHing]

LOL I havent slept for 2 days and things are starting to not make sense anymore 😉

 

[mordantmonkey]

why would you think you would multiply by a million?
you multiply by 1000

<-----------worked at a bank for 7 years

 

[CPA]

Guys, read his question. He clearly states that the financial data is presented in millions.

For example

all numbers in millions

Revenues 6.7
COGS 3.8
Margin 2.9


Therefore, yes you would multiply by 1 million. A lot of financial data is presented in thousands, so maybe that's why you guys are multiplying by a thousand. Either that, or my sarcasm meter is broken.

 

[Lithium381]

sometimes it's confusing for large companies, such as walmart, i was looking at their data the other day.... it's in millions
net sales 344,992
or something like that......with numbers that large it's hard for me to wrap my head around

 

[CPA]

Originally posted by: Lithium381
sometimes it's confusing for large companies, such as walmart, i was looking at their data the other day.... it's in millions
net sales 344,992
or something like that......with numbers that large it's hard for me to wrap my head around

yep, that would be $344,992,000,000 in sales. Most Fortune 500 companies will be in the billions of dollars in annual revenues, with their financials presented in millions of dollars.

 

[halik]

Originally posted by: MrPickins

Originally posted by: DotheDamnTHing
When a report states a figure x that is in millions of dollars, do you multiply x by a million to get the "real" number?

Thanks in advance

I don't think that's an accounting question so much as a common sense question.

Yes, you do.

 

[Regs]

I would have the same problem because i've never seen a million dollars before.

 

[hiromizu]

Originally posted by: Regs
I would have the same problem because i've never seen a million dollars before.

It's like, surreal n shit.