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In this session, Professor Farhad discusses forward contracts as a hedging instrument, covering its relevance in advanced and international accounting as well as the CPA exam. He encourages viewers to connect with him on various platforms, including YouTube, LinkedIn, Facebook, and Twitter. The focus of the session is on hedging foreign exchange rate risks associated with foreign currency transactions, highlighting the inherent risks involved when buying or selling in a foreign currency. The discussion builds on concepts established in a previous session, emphasizing the importance of understanding these risks. For further resources, viewers are directed to his website and YouTube channel.