Measurements of Standard Model parameters in b and c decays

Recent experimental results have continued to improve our knowledge of Standard Model (SM) parameters, notably the magnitudes and phases of the quark mixing (CKM) matrix. Precise measurements of this type may reveal the presence of physics beyond the SM, since new particles and interactions can contribute to decay processes at the loop level and have a measurable affect on decay rates, mixing, and CP violation. I will review the status of measurements of standard model parameters using decays of hadrons containing beauty and charm quarks, with a particular focus on recent measurements from the B-factories and some prospects for future experiments.