This lecture reviews in simple terms the general subject of large scale magnetic field coupling to plasma flows in the vicinity of accreting compact stars. The relevant astrophysical phenomenology is summarized. Disk interaction with the magnetosphere of accreting stars is first discussed, in particular the structure of the magnetopause, its stability and plasma ejection in so-called propeller systems. The physics of accretion/ejection is then considered. Acceleration and focusing mechanisms of jets from accretion disks around compact stars or black holes and the question of the self-consistency of accretion and ejection are described. By contrast, small scale MHD turbulence in disks is not discussed, neither are accretion columns near the polar caps of neutron stars or white dwarfs. The reader is only assumed to have some basic knowledge of astrophysics and of fluid mechanics and electromagnetism.