This volume begins with an overview of basic accounting principles and how they pertain to the effective management of a corporation or business. According to the author, “Maintaining sound accounting principles will help to ensure that the organization is well-run and profitable.” The essay also stresses the importance of complying with the Sarbanes-Oxley Act, which Carolyn Sprague and Seth M. Azria analyze in greater detail. The effects of federal accounting mandates, the Securities and Exchange Commission, and the current status of the generally accepted accounting principles (GAAP) are among the topics discussed. Marie Gould then expands the scope of the volume by exploring the impact that the International Accounting Standards Board has had on globalized financial accounting. Simone I. Flynn contributes with a breakdown of the principles developed by the International Financial Reporting Standards Board and the recent global push for uniform financial reporting methods across nations.