Definitions A storyboard is the initial layout or outline of an animation. It shows sketches of the main frames in the action or story to be animated. It is usually drawn, but may include instructions, comments, or script.
Key frames are the detailed drawings of the original sketches in the storyboard.
There are usually more key frames than storyboard sketches, and these are carefully drawn, include all the pertinent objects in the correct positions, and show how the action should move in the animation. Inbetweening refers to filling in the frames that belong between the key frames. Morphing is similar in many ways to image processing. This is basically just an interpolation of the points on the edges of one object into the corresponding points on the edges of the new object. The change in colors between the two objects also requires interpolation.