Simple notation question O(2pi)

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What does it mean when you see an equation that has some terms then there is a O(λ) or O(π) in it? For example N(λ) = Cm Vol(M, g)λ m + O(λ m−1 ) . I self study and see this often but it is never explained in the books I use and it drives me nuts. Is this some sort of error function?
 
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A =O(x) means A is of the same order of magnitude as x.
 
Thanks again especially for the quick responses