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In this YouTube video tutorial, hosts Sarah Cage and Adam Olson are joined by Ty Cotter, a specialist in lease accounting. They discuss ASC 842, focusing on embedded leases, which are relevant for private companies adopting new leasing guidance in 2022. The conversation aims to help these companies identify their leases and serves as a refresher for those who have already adopted the guidance. Adam emphasizes the importance of understanding the definition of a lease under U.S. GAAP to set the stage for discussing embedded leases. Ty will share insights derived from his experience in implementing the guidance over the past few years.