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In this video tutorial, Sarah Cage and co-host Adam Olson introduce Ty Cotter, a lease accounting specialist from Embark, to discuss embedded leases under the new ASC 842 guidance, which private companies are required to adopt in 2022. The discussion aims to help these companies identify all their leases, providing valuable insights for those who have already implemented the new guidance as a refresher on key considerations. Adam emphasizes the importance of defining what constitutes a lease under U.S. GAAP before delving into the nuances of embedded leases. The conversation is geared towards enhancing understanding among listeners about the leasing landscape in the context of recent regulatory changes.