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In this session, Professor Farhad discusses forward contracts as a hedging instrument, highlighting its significance in advanced accounting, international accounting, and the CPA exam. He invites viewers to explore more lectures on his website and YouTube channel. Professor Farhad emphasizes the importance of connecting with his audience personally and encourages subscriptions on YouTube, as well as connections on LinkedIn, Facebook, and Twitter. He introduces the topic of hedging against foreign exchange rate risks, reiterating that engaging in foreign currency transactions exposes individuals to certain risks.