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This video lecture from Open Tuition discusses how to identify whether there is a lease within a contract between two parties. It is important to examine the contract details between Company A and Company B to determine if a lease exists. If a lease is identified, IFRS 16 rules apply; if not, alternative accounting standards must be followed. The lecturer emphasizes the importance of careful examination to properly identify a lease. It is crucial to follow the correct accounting treatment based on the lease determination.