A communication system consisting of a number of modules that communicate with one another through a shared communications bus which accommodates different protocols. The system includes a bus clock for defining a frame having a plurality of time slots for communicating signals on the bus; and a bus management algorithm for specifying a receive assignment definition and a transmit assignment definition. The receive assignment definition defines a receive channel for each of the modules representing a set of the time slots, where the modules receive signals from the bus during the set of time slots prescribed by the receive channel. The transmit assignment definition defines a transmit channel for each of the modules representing a set of the time slots, where the modules transmit signals to the bus during the set of time slots prescribed by the transmit channel.