Ripping CD ????

Anybody please clear me with what is ripping a Cd. As far as i know it is converting ths audio songs of a CD into a format compatible to be played in PC. Is it really so?? Please correct me if i am wrong . Thank you in advance

Ripping something in generally means coping something from a cd or dvd to your harddrive, burning something generally means putting something on a cd or dvd from another cd or dvd, harddrive or some other source