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In this video tutorial, hosts Sarah Cage and Adam Olson introduce guest Ty Cotter, a lease accounting specialist at Embark. They discuss the implementation of ASC 842, particularly focusing on embedded leases, as private companies are required to adopt new leasing guidance in 2022. The session aims to guide those identifying all their leases and serve as a refresher for those who have already adopted the guidance. Adam emphasizes the need to define what constitutes a lease under U.S. GAAP before delving into the specifics of embedded leases, setting the stage for a meaningful discussion among the participants.