In FCPX we have Events and Projects....which...doesn't make sense. No, I don't care what you say, it doesn't.
To make matters worse the equivalents are deliberately confusing:
Projects are now called Events
Sequences are now called Projects
It's a fucking stupid and pointless nomenclature change, but there you go. Get used to it. FCPX also creates separate events and projects folder on your hard drive, which I find immensely irritating and messy, but there you go, get used to it.
Larry Jordan provides some great tutorials on his youtube channel. They are often a little wordy and sometimes you do want to yell at him to 'get on with it', but stick with him. He knows what he's talking about.
In this video Larry explains the importance of Events and Projects.