Are there any best practices for handling numerical formatting in PHP to ensure accuracy and readability?

When dealing with numerical formatting in PHP, it is important to ensure both accuracy and readability. One best practice is to use number_format() function to format numbers with thousands separators and decimal points. This function allows you to specify the number of decimal places and the characters used for separators.

$number = 1234567.89;
$formatted_number = number_format($number, 2, '.', ',');
echo $formatted_number; // Output: 1,234,567.89