The time for your events shows in military time, otherwise known as the 24 hour clock convention. The day begins at midnight, 00:00, and the last minute of the day is at 23:59. This is the most widely used time notation in the world today.
So, for example, when you enter your event start time at 4 pm, it will appear as 16:00. If you enter your event time as 9 am, it will appear as 9:00.