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In this video tutorial, Sarah Cage and co-host Adam Olson engage with Ty Cotter, a lease accounting specialist at Embark, to discuss embedded leases under ASC 842. As private companies are required to adopt this new leasing guidance in 2022, the conversation aims to help listeners identify all their leases. Ty shares his experience implementing ASC 842 over the past few years. Adam emphasizes the need for a clear definition of a lease under U.S. GAAP to establish a foundation for understanding embedded leases. The discussion is framed as a beneficial refresher for those who have already adopted the guidance, as well as informative for those beginning the process.