The Elements of Setting

The setting is basically where and when something happens, right? I use the following acronym
(D-TiPP) to remember the elements of a setting:

D - Date
Ti - Time
P - Place
P - Props

Date, Time, and Place:
This is more than just (for example) New York, December 1, 10:00am.  It includes temperature, lighting, weather conditions, etc.  It is better to show the reader than to tell the reader.  For example, don't write that it was a cold, dark, and rainy night -- boring!  Better is to have a character put on a jacket and say something like "Jack Frost is working overtime," describe the sound of rain as it hits their shoes (or jacket or hat), and maybe tell that it's several hours after the late evening news.  This makes the story come alive and creates a better mental image.

Props:
These then items a character is carrying or are things at the setting location(s).


Again, I go back to my stage example.  Imagine your story as if it were acted on a stage (and you were writing the play and having to give a description of the stage setting and character action).  How would you show the setting to the audience, what props are on the stage and do the characters use them?  What action(s) are taking place?  For example, if you're on a New York street, then there are horn honks, cars drive by, people walking by, people yelling, etc.