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In this tutorial, Sarah Cage and co-host Adam Olson are joined by Ty Cotter, a specialist in lease accounting, to discuss embedded leases under ASC 842, which private companies must adopt by 2022. The discussion aims to aid companies in identifying all their leases and serves as a refresher for those who have already implemented the guidance. Adam emphasizes the importance of defining what constitutes a lease under U.S. GAAP to establish a foundational understanding before delving into the specifics of embedded leases. The conversation is designed to provide critical insights and considerations for effective lease accounting.