This will generally work on everything from trainers to twins. As the accident scenarios prove, however, many pilots don't know the drill, and the sequence is important. Full power is the first thing needed to get the aircraft climbing, but how it's applied is just as important as when. I remember coaching a student on what turned out to be a memorable go-around when he jammed on full throttle. All the torque and left-turning tendencies kicked in with a vengeance, so directional control became the issue of the moment.
More rudder sooner is much better than less rudder later.
The maneuver eventually worked out, but not without some amusement for the spectators. Next, the pitch attitude must be adjusted from landing to climb, with a transition through level. If the go-around occurs prior to the flare, raising the nose to level should arrest the descent. In many aircraft you'll need to hold the nose level with forward pressure to keep the airplane from attaining too high an angle of attack as power is added. A strong left arm is an essential part of a successful go-around.