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In this video tutorial, the focus is on calculating lease liability at initial recognition, which applies to all lease standards, including operating and finance leases under ASC 842. The presenter emphasizes that the present value methodology for calculating initial lease liability is consistent across different lease classifications. It starts with the present value of future lease payments. While initial calculation methods are similar, differences arise when dealing with right-of-use assets and modifications, particularly regarding scope changes. The tutorial aims to guide viewers through the initial calculation process and prepare them for the complexities introduced in subsequent lease accounting scenarios.