Men, women and children of chinuch age are obligated to hear the Megilah both night and day. The Leil Purim reading of the Megilah takes place at night after tzais hakochavim (nightfall). The Megilah may be read throughout the entire night until alos hashachar (daybreak). During the day, l'chatchila one should be yotzai the reading of the Megilah after neitz (sunrise). However, a person is yotzai if he hears it after alos hashachar. The Megilah may be read throughout the entire day until shkiya.
Megilah should preferably be heard b'tzibur i.e. with a minyan in shul (even if one has a minyan at home, if possible, one should attend a minyan in shul).
One may sit during Kriyas Hamegilah however, for the brachos one should stand.
The Ba’al Koreih should stand for the kriya when laining b'tzibur i.e. with a minyan, however when laining for an individual one may sit.