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In this video tutorial, Sarah Cage and co-host Adam Olson introduce Ty Cotter, an expert in lease accounting, to discuss embedded leases and the recent ASC 842 guidelines. Ty shares his experience implementing these standards, which are crucial for private companies adopting new leasing guidance in 2022. The discussion aims to assist companies in identifying their leases and serves as a refresher for those who have already adopted the guidance. Adam starts by providing a clear definition of what constitutes a lease under U.S. GAAP, setting the stage for a deeper exploration of embedded leases and their implications. The session promises valuable insights for all participants.
