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In this video, Sarah Cage and co-host Adam Olson discuss lease accounting with resident expert Ty Cotter, focusing on the implementation of ASC 842 and the identification of embedded leases, especially for private companies that need to comply by 2022. Ty shares his insights from recent experience navigating the new leasing guidance, emphasizing the importance of understanding leases under U.S. GAAP. The discussion aims to provide valuable information for companies beginning to identify their leases and serves as a refresher for those who have already adopted the guidance. Adam suggests starting with a clear definition of what constitutes a lease under U.S. GAAP to set the stage for the conversation.