Activated carbon removes gelbstoff (compounds that give aquarium water a yellowish tint), as well as some organic pollutants and toxins. Charcoal on the other hand is handy for grilling! :wink:
If your question is about activated carbon and it's use in aquariums. Here is a link to one article about it. There are many many more articles across the web about it's use. I personally use it 24/7 and change it about once a month or every 20-30 days.
http://saltaquarium.about.com/cs/filtration/a/aa061098.htm