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In this video, hosts Sarah Cage and Adam Olson welcome Ty Cotter, a lease accounting specialist, to discuss embedded leases under ASC 842. With the new leasing guidance required for private companies in 2022, the discussion aims to help listeners identify their leases effectively. Cotter shares insights from his experience in implementing the guidance, which will serve as a refresher for those who have already adopted it. The conversation starts with a foundational understanding of what constitutes a lease under U.S. GAAP, setting the stage for a deeper exploration of embedded leases. The hosts have prepared various questions for Cotter and Olson to facilitate the discussion.