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In this video tutorial, Abdullah Hammond explains how to manage contract expiry dates, particularly beneficial for those in HR, though applicable in other fields as well. He begins by defining a contract's starting date (April 8, 2020) and its duration (12 months). To calculate the contract ending date, he introduces the use of the EDATE function, which requires the starting date and the number of months (positive for forward in time, negative for backward). This function facilitates accurate tracking of contract expiration and can be useful for various scheduling tasks.