K2P2 in the round --help please

The pattern I wanted to do was this one: http://knithats.tripod.com/id7.html

When I am doing the K2P2, I need to move my yarn from front to back right? I’m knitting in the round if that makes a difference. Yarn to back, then knit, yarn to front, then purl, right?

Also…in the decrease section. What is K2 twisting?

Thanks for the help!

Ribbing is the same in the round as it is flat.

The twisting is through the back loops.