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In this session, Professor Farhad discusses forward contracts as a hedging instrument, a topic relevant to advanced and international accounting, as well as the CPA exam. He encourages viewers to engage with him through his website, YouTube channel, LinkedIn, Facebook page, and Twitter. The lecture focuses on hedging against foreign exchange rate risks, particularly for those involved in foreign currency transactions. Professor Farhad emphasizes that engaging in these transactions exposes individuals to risks associated with currency fluctuations.