Sequence of Mining and Collecting Transactions

Sequence of Mining and Collecting Transactions

I asked myself about the procedure of "Mining" and "collecting transactions". The way I understand it both processes are always active running parallel. So I assume a node has somehow two queues: one with the transactions of a block which they are currently mining and another one active collecting the transaction which will be part of the next block. So once a node found the nonce to a block it broadcasts the whole block. All nodes immediately start to mine a block containing the hash of the new (previous) block and the transactions (or a part) they were collecting while mining the previous block.

I already read When does a miner decide to stop collecting transactions and start calculating hashes to try to win? but like to have a confirmation of my understanding.

Thanks in advance

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