The difference between data and information are as follows:
Data:
- Refers to details, facts about any event.
- Is, generally, disorganized and disjointed in the form.
- Is in raw-form and is the input of accounting.
- Cannot be understood or made use of by the users.
- it does not depend upon information.
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Information:
- Refers to only those events which are concerned with entity.
- Is properly arranged, classified and organized.
- Is in the finished form and is the output of accounting.
- Is understood and used by the users of accounting information for taking their decisions.
- Information is based upon and derived from data.