Understanding Timecode

In your own words, explain what timecode is to someone who has no idea. What is it? Why is it so important for editing video?

    Timecode is the way that the time of a video project is defined so you know where you are. The timecode looks like 00:00:00:00 and it is broken up by 4 units: hours, minutes, seconds, and frames. Timecode is so important for video editing as it is vital for navigating the footage and finding what is needed. For more professional settings, it's used for them to tell you what shots are good and for a shot-list. It is also used by the sound department to sync up the audio to the visuals, which is insanely important as being even a little off at one point will be detrimental to the whole project.