You’re correct in formal accounting terms. In casual writing, though, most people use K for thousands and M for millions.
130K = 130,000
130M = 130,000,000
While it may be technically wrong, it’s the more common convention from what I’ve seen.
No. In accounting terms (and I have over 30 years of payroll and accounting experience) when you abbreviate a number, the correct way is 130,000 = 130K = (one hundred thirty thousand) K = 1,000 and to abbreviate 130,000,000 = 130M – M = 1,000,000.
In all my years I’ve never seen 130,000 ever expressed as 130M or 130,000,000 ever expressed as 130MM.