How to compost

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Lots of people are talking about organic gardening and composting. I read a lot about it and it seems difficult. However,I seen that all you need to do is find a spot; lay down some leaves, grass clippings, dead plant material and vegetative food scraps; keep adding to the pile; keep it moist, turn it regularly. This doesn't sound that hard but does it work? Is there anything else that I need to know?