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Direct Memory Access is a means to store information that is used frequently in memory which is much faster to access than disk based access. In some cases, you may have several machines or processors sharing the additional memory for transactions which would be Shared Memory Access – this could be in the form of traditional RAM or cache. Bus Mastering is a means to allow some devices to communicate directly with other devices without having to go through the CPU as an intermediate device. Think of a fast track lane on the highway. Your On Board Processor refers to having a processor directly attached to, for instance, a SCSI card so that it can handle the processes that a CPU would normally handle.
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