Set correct time
Bifferboard doesn't contain an RTC, therefore every time you turn it on it'll think the time is 04:02 on the 7th August 2009 (i.e. 2009-08-07 04:02)
I guess there are a few different solutions if you need your bifferboard set to the correct time:
You could set the time 'by hand' using the date command, e.g. date -s "2009-05-12 17:03"
You could set the time from the internet (or LAN if you have a local ntp-server) using the ntpdate command
You could connect up an i2c RTC chip and set the time from that (anyone got an example?)
You might be able to set the time from a USB GPS receiver?
Set correct timezone
You need to edit the /etc/TZ file (e.g. set it to GMT0BST in the UK):
# echo "GMT0BST" > /etc/TZ
/etc/TZ is a link to /tmp/etc/TZ, so the information will be lost on powerdown. Better edit the file /etc/config/system, add (or edit) the line:
option timezone GMT0BST
Slackware update:
The timezone can be configured by running the timeconfig command.