Drupal7 | Time shows differently in Frontend and Backend
Problem solved:

Just in case someone else got the same problem over this.
Here is what I was doing wrong (Thanks to Jay from Princeton University for pointing it out):

I set up the Date &amp; Time for the administrator account under "/admin/people", but not the system-wide setting, which is at "/admin/config/regional/settings"

'Administration -> Regional &amp; Language -> Date And Time' will show the date/time formats I have set up while respecting the user-chosen timezone (not the system-wide default time zone) so everything looks deceptively like it's how I want it until I log out.

So in short there is another time setting in .../admin/config/regional/settings
that I wasn't aware off.