The document summarizes fatty acid oxidation (β-oxidation) which involves three main stages: 1) Activation of fatty acids in the cytosol, 2) Transport of fatty acids into mitochondria via the carnitine shuttle system, and 3) β-Oxidation within the mitochondrial matrix which occurs via four reactions that sequentially cleave two-carbon acetyl-CoA units from the fatty acid acyl-CoA. This process continues in cycles until the fatty acid is completely broken down.