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In this video tutorial, Abdullah Hammond explains how to manage contract expiry dates, a concept particularly beneficial for HR professionals but applicable in various contexts. He demonstrates how to calculate a contract's end date using a start date (e.g., April 8, 2020) and a specified duration in months (e.g., 12 months). The method involves the "EDATE" function, which takes the starting date and the number of months to add or subtract. A positive number advances the date forward, while a negative number moves it backward. This approach helps in tracking contract expirations effectively.