Cooling system to be added also. Read, learn, share, have fun and enjoy. Download a SM.
A specific diagram to make it easier to understand. The parts fiche is a great way to get more info.
Charging system has a permanent magnet spinning around a stator to produce electricity from magnetic fields.
The Stator produces Alternating Current, the Rectifier gates the negative and positive sine waves to produce pulses of Positive and Negative polarity.
The Regulator controls the charging voltage by shorting the Stator winding. All VTX were originally supplied with "Shunting" regulators.
Rectifier and Regulator are combined into one unit(R/R). VTX stators are 3 Phase Delta system.

The Starting System has a safety "Ground Line" to prevent cranking/running with the Kickstand down when in gear.
Kickstand has to Be UP when in gear to start the engine. The Clutch lever has to be operated to close the clutch switch.
The Neutral Switch provides the Ground necessary when in Neutral.
The Starter Switch is a common problem, headlight current going through the switch after some time with dirt and grease
will create some resistance which heats up plastic switch parts. The contacts may move slightly, the movable part of the
switch common to both switch functions may get stuck. Often the connection for the Starter Relay and Headlight are impaired.
Cleaning the contacts usually clears the problem, sometimes spring stretching or shunt tweaking is necessary.
Pictures and the process>> http://www.rattlebars.com/mtz/starter.html

The Ignition Control Module(ICM) outputs Ground pulses to energize the IGN coils and to control timing advance from the Throttle Position Sensor.(TPS)
The only problem with the ICM are several short wires that tend to break at the ICM connector.
Reducing stress/strain on these wires is the preventative maintenance.