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In this video tutorial, Sarah Cage and co-host Adam Olson discuss embedded leases with Ty Cotter, a lease accounting specialist. Cotter shares his experience in implementing ASC 842, focusing on the guidance for private companies that must adopt new leasing rules in 2022. The session aims to assist these companies in identifying all their leases and serves as a refresher for those already transitioned to the new requirements. Adam sets the stage by explaining the definition of a lease under U.S. GAAP, which will help clarify the topic before diving deeper into embedded leases.