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Could anybody please explain to me what this expression (the floor is yours) means? and on what occassion do we use it? thanks
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You're the speaker now, You may speak now
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the senate, the house of representatives, any formal meetings where a presenter stands before attendees, maybe. It's usually said when you're done making your point or your time is up to mean the 'floor' is available for the next speaker/presenter. It's always used when you hear words like bill, motion, etc. So, you wouldn't yield the floor in a staff meeting. You might yield the table. Just kidding Emotion: smile
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 Marius Hancu's reply was promoted to an answer.

You may start your presentation now. You can start now.

as far as I know, the expression explains that he or she is telling you that if you are in a presentation or something, its like the stage is yours so u can say what u want.

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The floor is yours means, the stage is yours and you can start your speech.