Hello,
In the following link of ms project site:
http://office.microsoft.com/en-us/pr...888.aspx?CTT=3



Please see last sentence that says:

"You can set defaults to specify how Project will automatically adjust where actuals and remaining work are placed according to the status date of the project."

Can you please clarify and give details about this sentence? I did not understand how or where this is done exactly.

The sentence is referring to the options in Tools > Options, Calculation page. Specifically the options:

"Move end of completed parts after the status date back to the status date"
"Move start of remaining parts before status date forward tot he status date"