Here's a short video with everything you need to know. One clarification, the outer layer of the bottom two or three inches of an asparagus stalk can be woody and impossible to chew so that needs to be dealt with. There are a couple of ways to do that. The first is to just snap it off. Hold the stalk at the base and about three inches up and just break it. It usually breaks right where the skin gets tender and you're set to go. The other way is to pare the ends with a vegetable peeler. Just lay the stalk flat and trim the ends. This is slower but you don't lose as much asparagus. Also, I said 'flowers' in the video but they're really just buds.
