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In this video, Abdullah Hammond explains how to manage contract expiry dates, a useful skill for those in HR and other fields. He begins by establishing the contract's starting date, which he sets as April 8, 2020, with a duration of 12 months. To calculate the contract's ending date, he introduces the "EDATE" function, which determines a date based on a specified number of months added to the starting date. The EDATE function requires the starting date and the number of months, which can be either positive (to move forward in time) or negative (to move backward). This tutorial emphasizes the practical application of these concepts in contract management.