Properties and options in Adobe After Effects CC software

Hello!

What are the best ways for me to set up project settings? What is proper use of color management, timecode and time display units? What do you mean by color depth and dynamic range color in After Effects? What are the effects that I can probably use in composition settings? What is the total performance of the software, memory capabilities and considering storage capabilities? In color depth, what are the properties I can use to get a better effect? For timecodes, what are the options I can use to make my project to work properly?

Thank you very much and have a nice day!