The accounting for public enterprises and local authorities, as well as for private companies, is undergoing constant change. This affects not only international accounting standards but also a comprehensive reform of the German Commercial Code (HGB) that is imminent. The volume published in honor of Prof. Dr. Hannes Streim's 65th birthday addresses, discusses, and critically evaluates these current developments. Additionally, the book includes contributions on the subprime mortgage crisis, accounting for factions of the German Bundestag, the determination of the costs of a study place, and corporate governance issues. The authors of the 21 contributions consist of outstanding national and international experts from both academia and practice.