Magnetic fields are crucial to the generation of turbulence and the dynamics of accretion and energy dissipation in accretion disks. Nevertheless, until now, there has been no self-consistent analytic formalism that puts the evolution of turbulent magnetic fields on the same footing as other dynamical processes such as mass flow and energy generation. We have developed a self-consistent framework for turbulent, magnetized accretion disks with the aim of studying the processes that power hot coronae. Utilizing this framework we have identified the possible magnetic sources of power for the coronae of black hole accretion disks. The most promising is the Poynting flux associated with the azimuthal-vertical magnetic stress. We also determine how the emission from the disk is modified by the processes that power the corona and related winds.To search for other articles by the author(s) go to: http://adsabs.harvard.edu/abstract_service.html