Bible
The Bible is a collection of writings of ancient prophets who lived in the Middle East, primarily in the land of current-day Israel, but also encompassing areas as diverse as modern-day Rome, Egypt, Iraq, Saudi Arabia, and Turkey, to name a few.
Old Testament
The LDS church uses the King James version of the Bible. While most lay members believe that every Bible is essentially the same, there are significant differences beyond mere translation. In the Catholic, and Eastern Orthodox churches, for example, there are some other books not included in the King James Version. Most of these differences are in the Old Testament.
New Testament
Unlike the Old Testament, the New Testament is standard with 27 books comprising it. The books were deemed authoritative from some various committees in the early centuries following Constantine's conversion. The original text was probably composed mostly in Greek.
Joseph Smith Translation
Due to errors in translation, church founder Joseph Smith received inspiration to correct certain errors in the King James version. While it is the official version of the Community of Christ, formerly known as the Reorganized Church of Jesus Christ of Latter-Day Saints, the Mormon Church also known as LDS Church or Church of Jesus Christ of Latter-Day Saints maintains use of the King James Version, but does find Joseph's inspiration as valuable supplemental material.