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In this video tutorial, hosts Sarah Cage and Adam Olson invite lease accounting specialist Ty Cotter to discuss embedded leases under the new ASC 842 guidance, which private companies are mandated to adopt in 2022. The conversation aims to assist companies in identifying their leases, with valuable insights for both new adopters and those seeking a refresher on key considerations. Adam emphasizes the importance of beginning with a clear definition of what constitutes a lease under U.S. GAAP to effectively understand the following discussions about embedded leases. The session promises to provide a comprehensive overview and clarify essential concepts.