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In this video, hosts Sarah Cage and Adam Olson are joined by Ty Cotter, a lease accounting specialist at Embark, to discuss embedded leases, particularly in the context of ASC 842 implementation for private companies adopting new leasing guidance in 2022. The discussion emphasizes the importance of identifying all leases and offers a refresher on key considerations 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 provide context for the topic. Ty's experience navigating the relevant guidance is highlighted as valuable for understanding embedded leases.