In court proceedings, a transcript is usually a record of all decisions of the judge, and the spoken arguments by the litigants' lawyers.
A related term used in the United States is docket, not a full transcript.
A transcript is expected to be an exact and unedited record of every spoken word, with each speaker indicated.
Such a record was originally made by court stenographers who used a form of shorthand abbreviation to write as quickly as people spoke.
The recordings are archived and are sent to court reporters or transcribers only when a transcript is requested.