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Timer help

is there some information on how to build a timer. Its all good and proper that people post could code on these forums. Its very useful, but can someone help me understand the code. I want to be able to build timers from scratch so that I understand what's going on. Atm I'm having difficulty making my own event driven timer.
 
I need it to start on a boolean and end on a different boolean all triggered by DAQs.
 
Also how accurate can I get a timer.
 
Thanks
 
L
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Please keep your questions in the other thread that you started on this topic.
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