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In this video tutorial, hosts Sarah Cage and Adam Olson discuss embedded leases with Ty Cotter, a lease accounting specialist, as part of a series on the new ASC 842 leasing guidance. The focus is on how private companies are preparing for the 2022 implementation of this guidance. The session aims to help these companies identify all their leases and serves as a refresher for those who have already adopted the guidance. Adam emphasizes the importance of defining a lease under U.S. GAAP to establish a clear understanding before delving into the specifics of embedded leases. The discussion is intended to provide valuable insights for listeners navigating these new requirements.