$InstallationDirectory gives the top-level directory in which your Mathematica installation resides.
init.m is a Mathematica initialization file.
$InitialDirectory gives the initial directory when the current Mathematica session was started.
$UserName gives the login name of the user who invoked the Mathematica kernel, as recorded by the operating system.
CharacterEncodingsPath is a global option that specifies which directories are searched for character encoding files.
PalettePath is a global option that specifies which directories Mathematica searches for palettes on startup.
SpellingDictionariesPath is a global option that specifies which directories are searched for spelling dictionaries when the Edit \[FilledRightTriangle] Check Spelling menu ...
StyleSheetPath is a global option that specifies which directories Mathematica searches to find stylesheets.
If you have installed Mathematica in a location where multiple users can run it (for example, on a file server or multi-user machine), then you can set up systemwide defaults ...
$BaseDirectory gives the base directory in which systemwide files to be loaded by Mathematica are conventionally placed.