Yes, it's a switching power supply.
In very simplified way (and with probably some mistakes but you get the idea)
F1 is fuse, RTH1 is a thermistor used to limit inrush current, The coil thing above the bridge rectifier is a common mode inductor (for ac filtering) , the gray rectangle on the right is an X capacitor (again for AC filtering), the blue things on the right are Y capacitors.
AC voltage comes through those, goes in the bridge rectifier BR1 , then gets smoothed out by the two big capacitors and you have 110-120v / 220-240v x 1.41 V DC
The to-220 transistor (or mosfet maybe) with heatsink turns on and off sending pulses through the transformer, resulting in some output on the secondary side as magnetic field in the transformer forms. The D3 On the other side are two diodes on a package like this: -[###||-><-||###]- which convert the AC back to DC voltage which then goes through C12, C13, the inductor with 100 on it, the other capacitors etc.
There's either some circuit or there's a smaller winding on the secondary side which helps something on the secondary side send a signal through the optocoupler back to the primary side to a transistor, basically telling it how often and for how long of a period the large transistor should stays on. When the voltage is too big on the secondary side, the primary side receives through the optocoupler a signal to chill, to slow down.
If there's more current pulled, the primary side gets message to send pulses more often though the transformer to keep the voltage in check.
I'm not exactly sure what IC4 is for, it may be just a basic linear regulator generating some lower voltage from the output.
It's a bit more complex than this as there's two optocouplers and some transistors and that IC5 I can't figure out from a simple picture, but the fact is ... this is a switching power supply.
If you want to learn more, see for example this link (page 107 and forward, 2.1.1 An Introduction to Switched Mode Power Supply
Topologies) :
http://www.nxp.com/documents/application_note/APPCHP2.pdfThese two application notes also contain a lot of information about switching power supply topologies:
Microchip AN1114 Switch Mode Power Supply (SMPS) Topologies (Part I) :
http://ww1.microchip.com/downloads/en/AppNotes/01114A.pdfMicrochip AN1207 Switch Mode Power Supply (SMPS) Topologies (Part II) :
http://ww1.microchip.com/downloads/en/appnotes/01207b.pdf