1. A configurable communication template for designing a communication component in an accelerator of a processor-based system having an external memory unit, said configurable communication template comprising: (a) a configurable host bus unit connecting said accelerator and said processor so as to permit communication there between, for managing the transfers initiated by the processor, to and from the configurable communication template; (b) a configurable local memory unit for storing and identifying storage elements local to the configurable communication template; (c) a configurable local memory access backplane for managing parallel access paths to the configurable local memory unit; a configurable memory bus unit for connecting the accelerator and said external memory unit; (d) a configurable memory bus unit for connecting the accelerator and said external memory unit; (e) a configurable direct memory access unit connecting the external memory unit and said configurable local memory unit of the accelerator so as to permit communication there between; (f) a configurable and programmable control unit for communicating with all the units in the configurable communication template, centrally controlling and coordinating within the configurable communication template; whereby, the configurability of the configurable communication template simplifies the accelerator design process, the configurable bus interface enables easy portability of the accelerator across different bus architectures, and the combination of all the communication components in a single configurable communication template increases the speed of data transfer and speed of data control processes in the accelerator.