Thanks so much for the warm welcome everyone!
I took everyone's advice and ran through it to figure out the knitting jargon. I have a few questions though.
The beginning seems pretty straight forward, however using a stitch holder makes me a little nervous, but I think I'll ask questions when I get to that.
My first question is how am I supposed to know when I'm supposed to use the circular needles? Right now the only thing I can anticipate those for is the sleeves.
And clarification on my 1st step is simply doing the back:
With colour A, CO 74 stitches
Work in St st, as described in the stitch guide, until piece measures 24" by 61 cm from CO edge (uncurl lower edge to measure correctly), ending with a WS row completed."
Simply said, I am casting off 74 stitches and following the stitch stitch described till I hit the desired dimensions of 24" by 61 cm? Or simply till it's 24 inches long? Then I finish it off completely by the wrong side and not holding stitches. Simply close it off?