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As an accountant, do you know the difference between information and data?

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Question added by Deleted user
Date Posted: 2014/08/27
Karim Hussein, QIA, CMA, CFC, CertIFR, CertIA
by Karim Hussein, QIA, CMA, CFC, CertIFR, CertIA , Senior Manager - Internal Audit , Abyat

Information is processed data or in other words information is the output of a process in which data is input.

FITAH MOHAMED
by FITAH MOHAMED , Financial Manager , FUEL AND ENERGY CO for transportion petroleum materials

Simply 

Data is the raw material before treatment 

Information is data after the treatment process

Khaled Mohee Eldeen Abbas Mahmoud
by Khaled Mohee Eldeen Abbas Mahmoud , Chartered Accountant # 10465 , Self-employed

information is what we get after inserting data in accounting system

Deleted user
by Deleted user

Data is in raw form Information is processed data for ude

MALIIK SOHAIL ABBAS
by MALIIK SOHAIL ABBAS , ACCOUNTS MANAGER , AL RAWDAH GREEN SWEET WATER

THE DATA IS A COLLECTION OF FACTS AND FIGURES WHEN WE PROCESS THESE DATA TO IMPOSE DIFFERENT FORMULAS LIKE AVERGAE , MODE , MEDIAN , ETC THE DESIRED RESULT IS CALLED INFORMATION

ahmed faraj karama
by ahmed faraj karama , Cashier , SHIFA CHEM LTD

data is raw information while information is processed data.

Samuel Loveday
by Samuel Loveday , Management Accountant , Mopheth Nigeria Limited

Data includes all the financial transactions or events found in the accounting source documents which is used to prepare the yearly accounts or financial statement while information refers to the contents and analysis, interpretation of the financial statement. The information or contents of the financial statement is needful to the public,government, investors, debtors, creditors management

Tuan Ishrat Chondon - ACMA, CGMA, CPA (Aust.)
by Tuan Ishrat Chondon - ACMA, CGMA, CPA (Aust.) , Accounting Supervisor , Almarai Company

Information is the processed data from which we can interpret and make decision 

Data on the other hand is information is in its raw format or unprocessed. 

Mohammad Elshqirat
by Mohammad Elshqirat , Internal Audit Supervisor , Rodl & Partner

Information is processed and organized data.Data is the raw input and information is the output.

Information is meaninful but data consists of a huge amount of things without meaning. 

Deleted user
by Deleted user

As an acccountant we need information to reach in conclusion which combines all relevant data.

But each data is not considered as relevant to reach in certain conclusion.

 

VENKITARAMAN KRISHNA MOORTHY VRINDAVAN
by VENKITARAMAN KRISHNA MOORTHY VRINDAVAN , Project Execution Manager & Accounts Manager , ALI INTERNATIONAL TRADING EST.

Information could be narrative.  Data: Quantitative

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