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In this session, Professor Farhad discusses forward contracts as a hedging instrument, a topic relevant in advanced and international accounting, as well as the CPA exam. He invites viewers to connect with him through various platforms, including YouTube, LinkedIn, Facebook, and Twitter. The lecture focuses on hedging against foreign exchange rate risks that arise from foreign currency transactions, such as buying or selling in a foreign currency. Professor Farhad emphasizes the importance of understanding these risks and how forward contracts can help mitigate them. He encourages viewer participation and engagement throughout the tutorial.