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In this video tutorial, Sarah Cage and co-host Adam Olson discuss embedded leases with Ty Cotter, a resident lease accounting specialist. They highlight the significance of implementing ASC 842, especially for private companies required to adopt new leasing guidance in 2022. The session aims to help viewers identify all their leases effectively, providing a valuable refresher for those who have already adopted the guidance. The discussion begins with a definition of a lease under U.S. GAAP to set the stage for understanding embedded leases. Overall, the focus is on navigating the relevant guidance and ensuring compliance with the updated leasing standards.