In my opinion, compost bins constructed with wood slats are way too complicated and expensive to build.

But, some folks want to do that, so here's a link to the best wood slatted compost bin that I've found step-by-step photos for:

Blaamand Wood Compost Bin Construction http://s241.photobucket.com/albums/ff134/blaamand/Compost%20Bin/?action=view&current=04-Back.jpg