This is a very difficult question to answer without understanding the usage patterns for your app. Who is accessing the data? Why are they accessing it? What are their goals?
There are a number of different progressive disclosure techniques that could be used to make a large volume of data usable on a small screen (e.g. sequential loading, disclosure arrows, detail sub-screens, etc.), but first you have to understand how your users will use your app in the real world. I'd strongly recommend doing some interviews with real users to find out what data is actually important, and what sorting mechanisms could be employed to make the data relevant to them. Rarely is a large list view what your users actually need.
For inspiration, I'd look at the built-in Contacts app on iPhone. One can have hundreds of contacts (individual records), all with many fields, and yet everything has a place and is easy to get to.
I'd also highly recommend reading Luke Wroblewski's latest book Mobile First, in which he talks about the constraints and opportunities that arise from small screens. He argues that constraints are actually a feature, as they force the designer to focus on their users needs more diligently -- a viewpoint I happen to share.