What is the bit depth difference b/w CR2 and TIFF when sent to photoshp?

[RSam]

I purchased a Powershot S110. The raw files are not accepted by photoshop camera raw (CS5). I know I can send to photoshop as a TIFF file. I would like to know what the difference is between the raw image and the TIFF conversion. How much data am I losing, bit depth, tones, etc... Do I need to upgrade to CS6 $$$?

[shoot_ric]

Read this: http://www.thephoblographer.com/2011/09/26/are-tiffs-and-raws-really-the-same-thing/