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 basically the time of the video you're seeing. The format is: 00:00:00:00. The first set of zeros are the hours, then the minutes, then seconds, and finally the frame. There's usually 20-60 frames per second (fps). It's so important because while doing professional editing, you'll be given hours worth of footage, and you need to sort through it all, and know what time you're at, if given a list of good takes and bad takes.