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An abbreviation (from Latin brevis, meaning "short"[1]) is a shortened form of a word or phrase, by any method including shortening, contraction, initialism (which includes acronym) or crasis.
An abbreviation may be a shortened form of a word with a trailing period. For example: etcetera is usually abbreviated etc. and abbreviation is sometimes abbreviated abbr., abbrv., or abbrev.. But sometimes the trailing period is not used for such shortened forms.
A contraction is an abbreviation formed by replacing letters with an apostrophe. Examples include I'm for I am and li'l for little.
An initialism or acronym is an abbreviation consisting of the initial letter of a sequence of words without other punctuation. For example, FBI (/ˌɛf.biːˈaɪ/), USA (/ˌjuː.ɛsˈeɪ/), IBM (/ˌaɪ.biːˈɛm/), BBC (/ˌbiː.biːˈsiː/). When initialism is used as the preferred term, acronym refers more specifically to when the abbreviation is pronounced as a word rather than as separate letters; examples include SWAT and NASA.
Initialisms, contractions and crasis share some semantic and phonetic functions, and are connected by the term abbreviation in loose parlance.[2]: p167