Mother Earth News has an interesting and strightforward article on composting.  Per the article "Composting mimics and intensifies nature’s recycling plan. A compost pile starts out as a diverse pile of kitchen and garden “waste.” Left alone, any of these materials would eventually decompose. But when a variety of materials are mixed together and kept moist and aerated, the process accelerates. Compost matures into what soil scientists call active organic matter: a dark, crumbly soil amendment that’s rich with beneficial fungi, bacteria and earthworms, as well as the enzymes and acids these life-forms release as they multiply."

"Adding compost to garden soil increases its water-holding capacity, invigorates the soil food web and provides a buffet of plant nutrients. Compost also contains substances that enhance plants’ ability to respond to challenges from insects and diseases."

The article cleared up many misconceptions I had about composting - laying out the information in the following 10 facts.

1. Balancing ingredients is optional.

2. Good compost can be either hot or cold.

3. Small or large - any size pile will work just fine.

4. Turning compost is optional.

5. You can gauge the moisture level of your compost pile by its fragrance.

6. Compost need not be a secret.

7. You can compost diseased or weedy plants.

8. With a worm bin, you can even compost indoors.

9. You can safely compost livestock manure.

10. There are good uses for immature compost.

Read more: http://www.motherearthnews.com/Organic-Gardening/2006-10-01/Compost-Made-Easy.aspx#ixzz1nJcA8ug5