Coordinated Universal Time (UTC) is the international reference time scale used by Windows for file-time values. It does not change for daylight saving time. Local civil time, including the time in Greenwich, may differ from UTC when daylight saving time applies.
Local time is the date and time for your time zone. The current time-zone settings control how the system converts between UTC and local time.
A file time represents the specific date and time at which a specified file was created, last accessed, or last written to. The system records file times whenever applications create, access, or write to files. The system records the times using a 64-bit value specifying the number of 100-nanosecond intervals that have elapsed since 12:00 A.M. January 1, 1601 (UTC). Writing to a file can change the last-write time. Reads and writes may update the last-access time, but the update can be delayed or disabled by file-system and system policy.
Note: Not all file systems can record creation and last access time, and not all file systems record them in the same manner. For example, on Windows NT FAT, create time has a resolution of 10 milliseconds, write time has a resolution of 2 seconds, and access time has a resolution of 1 day (really, the access date). On NTFS, last-access updates can be delayed by up to 1 hour or disabled. Furthermore, FAT records times on disk in local time, while NTFS records times on disk in UTC, so it is not affected by changes in time zone or daylight saving time.