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In this tutorial, Sarah Cage is joined by Adam Olson and Ty Cotter, a lease accounting specialist at Embark. They discuss ASC 842 and its implications for private companies adopting new leasing guidance in 2022, focusing particularly on embedded leases. The conversation aims to help listeners identify all their leases and serves as a refresher for those who have already adopted the guidance. Adam emphasizes the importance of understanding the definition of a lease under U.S. GAAP to set the stage for the discussion on embedded leases. The session promises to provide meaningful insights and address key considerations related to lease accounting.