Unfortunately, the good folks at Microsoft decided (in a strangely confusing move) to abandon the standard, typical units, and re-defining what they mean. In the real world, there are 2 ways to measure bits/bytes, decimal and binary.
decimal:
KB (kilobyte) = 1000 Bytes
binary:
KiB (kibibyte) = 1024 Bytes
but for some reason, Microsoft decided to ignore this completely and incorrectly define a KB as 1024 bytes. I'm not sure why they felt the need to do this, since in any/every other context the prefix "kilo-" means 1000. One KILOgram is 1000 grams, one KILOmeter is 1000 meters, etc. Microsoft for some reason hasn't bothered to add an option (that I am aware of) to change this to the correct unit definition. Microsoft has done a fair bit of damage, misleading people, to the point where even moderately experienced users will mix up unit definitions, so I've included below a list of units and their real values as recognized by the NIST, IEEE, and the IEC.
Binary:
KiB = 2^10 = 1,024
MiB = 2^20 = 1,048,576
GiB = 2^30 = 1,073,741,824
TiB = 2^40 = 1,099,511,627,776
PiB = 2^50 = 1,125,899,906,842,624
Decimal:
KB = 10^3 = 1,000
MB = 10^6 =1,000,000
GB = 10^9 =1,000,000,000
TB = 10^12 =1,000,000,000,000
PB = 10^15 =1,000,000,000,000,000
For more in-depth information, you can refer to "IEC 60027-2: Letter Symbols to be Used in electrical technology - Part 2: Telecommunications and Electronics" which is the official documentation on the standard.