Anatomy Of A Raspberry Pi

This is a great picture that was put out by the official Raspberry Pi website and it details perfectly what everything on your Pi is.

I will just give a quick run through of what everything does so it isn't all just names to you:

Name What is it?
Power I think this one explains it self though it is worth mentioning the Raspberry Pi is powered through a Micro-USB cable (Purchased separately).
SD Card The SD Card (or rather SD Card slot) is needed to install whatever OS you want to run (purchased separately). The minimum is 2GB though the recommended is 4GB.
GPIO AKA general purpose input/output, these pins are not within the scope of this guide though I will include some resources to help you get started.
GPU The GPU (Graphics Processing Unit) powers all the flashy stuff and makes up for the sub-par CPU.
CPU The CPU is clocked at just 700Mhz so is not too impressive. It is up to the impressive GPU to handle the heavy lifting so the CPU mainly takes a back seat.
512MB RAM
The amount of RAM (Random Access Memory) that is available. Part of this is shared with the GPU.
HDMI Probably the most common video output today. HDMI will out put both sound and video to your TV up to resolutions of 1080p.
LAN There are no wireless capabilities on the Pi so you have to use an ethernet cable connected to the LAN port on your Pi to a corresponding one on your router. Of course you can also buy a USB wifi adaptor if that is more suitable to your needs.
USB 2.0 Used to connect mainly your mouse and keyboard though of course you can connect anything that uses a USB connector e.g. Wifi adaptor.
LEDs
The LEDs have the following meanings :

ACT - D5 (Green) - SD Card Access
PWR - D6 (Red) - 3.3 V Power is present
FDX - D7 (Green) - Full Duplex (LAN) connected
LNK - D8(Green) - Link/Activity (LAN)
100 - D9(Yellow) - 100Mbit (LAN) connected
Audio A simple 3.5mm jack for use if you don't have HDMI or you want to use headphones or another set of speakers.
RCA Video An alternative video out (at a low resolution) for use with displays without HDMI.

On the next page I will detail what other equipment is needed to use the Pi to its full potential.