The oneworld FAQ sticky at the top of this forum explains some things, including your example question.

There is also a glossary on FT in the Help menu that has more general aviation & FT terms in it.

If you are still none the wiser I am sure someone would be able to fill you in if you add specific questions to this thread.

OH and good luck and have fun if you decide to venture into a OW RTW. I find them great fun to plan an execute, although sometimes it can also be an exercise in frustration. The rules are not always as clear as they could be but that is where the folks that frequent this forum are a great asset.