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In this video tutorial, hosts Sarah Cage and Adam Olson discuss embedded leases with resident lease accounting specialist Ty Cotter from Embark. The focus is on the implementation of ASC 842, particularly for private companies required to adopt the new leasing guidance in 2022. The discussion aims to assist companies in identifying all their leases and serves as a refresher for those who have already adopted the guidance. Adam begins by defining what constitutes a lease under U.S. GAAP, setting the stage for understanding embedded leases. The session promises to be informative for listeners navigating the complexities of lease accounting.