Absolutely. I thought I would explain a little further though. The difference is in the system of counting used. Hard drive manufacturers use a traditional base-10 approach:
1 kilobyte = 1,000 bytes
1 megabyte = 1,000,000 bytes
1 gigabyte = 1,000,000,000 bytes

However, computers use a binary system for everything including locating data. Thus, instead of 1000 as the base unit, they use 1024 (2^10).

1 kilobyte = 1,024 bytes
1 megabyte = 1,048,576 bytes
1 gigabyte = 1,073,741,824 bytes

Everybody, including the software you use, uses the binary system when referring to computers instead of the base-ten system except the drive manufacturers. They aren't exactly lying, just being deceptive.

-Biscuits