Many quantities in After Effects are either points in time or spans of time, including current time, layer In and Out points, and durations of layers, footage items, and compositions.
By default, After Effects displays time in Society of Motion Picture and Television Engineers (SMPTE) timecode: hours, minutes, seconds, and frames. You can change to another system of time display, such as frames, or feet and frames of 16mm or 35mm film.
Video-editing workstations often use SMPTE timecode that is recorded onto videotape for reference. If you are creating video that will be synchronized with video that uses SMPTE timecode, use the default timecode display style.
You may want to see time values in a feet plus frames format, for example, if you are preparing a movie for eventual output to film, or in simple frame numbers if you plan to use your movie in an animation program such as Flash. The format you choose applies to the current project only.
The current-time display appears in the upper-left corner of the Timeline panel and at the bottom of the Layer, Composition, and Footage panels.
Timecode for 59.94 fps compositions and footage items matches that in Adobe Premiere Pro: When the timecode base is 30 fps, each timecode value repeats twice. When the timecode base is 60 fps drop-frame, frame numbers 0,1,2,3 are dropped in exactly the same places as where 0,1 are dropped for drop-frame timecode with a timecode base of 30 fps.
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