Check the box for Monitor Compensation so that real-time color conversion between the Photoshop working space and the monitor is in effect. Provided that the people who are editing images keep their displays calibrated and use the same RGB working space, they will see the same color. Notice that Apple Multiple Scan 17-9300 is shown under Monitor. Select CMYK Setup. The default dialog box assumes you will use Photoshop separation tables when changing color modes from RGB to CMYK for print.
Experienced users can make adjustments here.
Beginners can get professional results using the ICC button. For the Profile, select the actual printing device to account for color reproduction. It should be left at Perceptual for color images. Until hardware and software allow users to find and set their monitor's black point, leave Black Point Compensation unchecked or it might clip your gamut. Select Grayscale Setup.