Im working on recording my first song at the moment and am wondering, is it generally accepted that you record the track in parts and assemble it later, or is this like cheating or something?

I can play the whole song obviously, but i always seem to make a mistake or two, or something doesn't come out just right and i keep deleting the recording and starting over so i can get it perfect, which is taking forever.

I was just wondering how other people did this. I figured it be easy to record the verse riff and chorus riff separate and then copy paste using the recording software and it would sound good, but then it seems less like I'm recording a song and more like I'm generating one using my computer.

Any thoughts?
people will be able to tell. believe me. but it's up to you.
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if I can make it through the song perfectly, I'll record it one take all the way through, but I generally record my songs in peices

and if you are decent at piecing together the song and have a good program, it will sound fine.
It's really hard to get a seamless transition, and it gets even harder as you add in more parts...at least that's what i've found. That said, i've done it on some recordings where there's a distinct pause between riffs or phrases.
I tend to play the song thought for each track and if I make a small mistake I mute that track and record a new one. Try not to delete tracks. It could be of good use later in the song if you mess up another part while re-recording.

It's much more common to piece together vocal tracks as there are spaces where you can cut however if you are good enough you can seamlessly join guitar parts and cross-fade them without anyone knowing.
Quote by humperdunk
people will be able to tell. believe me. but it's up to you.

Well obviously that's not always true, seeing as many professionals work this way.

It depends how you do it really. I would play the song through about 3 - 5 times, recording the whole thing, as a starting point. Then, you can listen to the takes you have, and if any of them are perfect, great! If there are mistakes, then cut out the part with the error and replace with a good section from another take.

For example, you might have a great verse 1 in take one but a crap chorus. Take two has a good chorus, so you can replace the crap chorus in take one with the good one from take two. This is called 'comping' (compiling). Many pros use this technique.

If you are going to do it like this, make sure you record to a metronome, or to your drum track if you have one, otherwise this could go badly wrong.
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Fridge Raider +1. Totally.

And with a bit of practice.... it is really easy to make a seamless transition.

Could I get some more talent in the monitors, please?

I know it sounds crazy, but try to learn to inhale your voice. www.thebelcantotechnique.com

Chris is the king of relating music things to other objects in real life.
hah god no, thats how its done in a professional enviroment, Especially when it comes to vocals, they will sometimes be done word by word.