"Provide a rough-draft sketch of the Timer/Counter-related parts of your design, using either a flow chart or some pseudocode (but not actual assembly code)."

Yes

Explanation:

Flowcharts diagram the algorithm in a visual manner that makes the entire algorithm visible. When the logic gets complex, this visual representation enhances the ability to trace all branches and confirm that every conditional has been fully handled. It can also show cases where things are getting to complex, and need to be re-factored. The downside to this visual representation is that the creator frequently needs to interrupt their work on the algorithm to make adjustments to the chart, or to redraw sections that no longer fit on the page/screen they are using. These points are even greater detractors when the flowcharts are created on paper rather than in a program designed for flowcharts.