Fats and oils are composed of triglycerides, which are esters of fatty acids and glycerol. They can be saturated or unsaturated depending on the number of double bonds in the fatty acid chains. Trans fats are unsaturated fats that have been hydrogenated, changing the geometry of double bonds from cis to trans. Partial hydrogenation of oils reduces unsaturation and makes them less nutritious. Tests like acid value, saponification value, iodine value and acetyl value are used to analyze and characterize fats and oils based on their properties.