Perception (noun)

1. The process of becoming aware of something through the senses.
2. The way in which something is understood or interpreted.
3. The ability to perceive or become conscious of something.

Origin:

From middle english percepcioun, from old french perception, from latin perceptiō, from percipere ("to take in, understand, perceiv.e")

Examples:

1. His perception of time was different from mine.
2. She had a unique perception of the world around her.
3. The perception of the situation was not accurate.