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In this video tutorial, Sarah Cage and co-host Adam Olson, Embark's national quality leader, discuss embedded leases with Ty Cotter, a lease accounting specialist. Cotter shares his experience with implementing ASC 842, which is particularly relevant for private companies required to adopt new leasing guidance in 2022. The discussion aims to help these companies identify all their leases while serving as a refresher for those who have already adopted the guidance. Adam emphasizes the importance of defining a lease under U.S. GAAP before delving into embedded leases, setting the stage for a deeper exploration of the topic.