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The tutorial demonstrates how to create a calculated field named "Anniversary" on a form using the example of accounts. The process involves navigating to settings customization, customizing the system, and defining the field within the accounts entities. The datatype for the field is set as "day and time," with the field type as a calculated field. The calculation is set to add twelve months to the "created on" date. Once the function is established, save the changes to apply the new field to the form.