Audio Transcription Jobs

Could someone with experience in these help me understand what the job is like. What I know about it so far is that you are basically listening to audio and converting that into text by typing it out. Are you just typing out what you hear, or do you also have to take into account context or go out of your way to write explanations and attribute some meanings? Do you have to distinguish the different speakers as well? And what is the audio quality like most of the time? Could you please describe a typical day of work?
Ty

submitted by /u/July14_2023
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source https://www.reddit.com/r/beermoney/comments/14zp0ny/audio_transcription_jobs/