Data Representation

Analog
Representing data in a form other than binary digits (bits), allowing for continuous variation. Analog devices use continuous signals to capture or reproduce sound, color, and other data, as opposed to binary systems which use discrete on/off states.
Digital
Digital technology uses a limited, predetermined numbering system to measure or represent the flow of data. Digital computers, for instance, use binary digits 1 (on) and 0 (off) to represent all types of data.
Rounding Error
A rounding error is a computational discrepancy that occurs when the exact representation of a number cannot be stored accurately in a computer due to limitations in precision, leading to an approximation stored with finite digits.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.