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In this video, Sarah Cage and co-host Adam Olson discuss lease accounting under ASC 842, particularly focusing on embedded leases. They welcome Ty Cotter, an accounting specialist with experience in implementing the new leasing guidance. The discussion is aimed at private companies preparing to adopt this guidance in 2022, helping them identify all their leases. For those who have already adopted the guidance, the session serves as a refresher on key considerations. Adam emphasizes the importance of understanding what constitutes a lease under U.S. GAAP to set the stage for the conversation on embedded leases. The session promises to be informative for viewers at varying stages of familiarity with the subject.