Varying configuration options can be applied in Dynamics CRM at the user and organization level. Configuration changes target two things:

• Change the way information is displayed
• Change the way application operates

Few Important things about various tabs:

• Format:  Deals with how Dynamics CRM displays number, currency, time and date for the users
• Auditing: Provides the option to enable auditing at the Organization level

A user can change the default settings applied at the organization level by going to File > Options and set personal options