Valence (outermost) electrons of one atom are transferred permanently to another atom, with the atom that loses electrons becoming a positively charged ion (cation) and the one that gains them becoming a negatively charged ion (anion)
Steps to determine the number of bonds formed between atoms
1. Get the total valence electrons in a compound
2. Compute the Octet Requirement that each atom should have 8 valence electrons to become stable
3. Subtract the total available valence electrons from the octet requirement, then divide the difference by 2 because a pair of shared electrons is equal to 1 bond