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In this video, Sarah Cage and co-host Adam Olson discuss embedded leases with Ty Cotter, a leasing accounting specialist at Embark. The session focuses on the implementation of ASC 842, particularly relevant for private companies that adopted the new leasing guidance in 2022. Ty shares insights from his experience, emphasizing the importance of identifying all leases. The discussion aims to clarify the definition of a lease under U.S. GAAP, providing a foundational understanding before diving into specifics about embedded leases. The conversation also serves as a refresher for those who have already adopted the guidance, highlighting critical considerations in lease accounting.