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In this video, Abdullah Hammond demonstrates how to manage contract expiry dates, which is particularly useful for HR professionals but applicable in various contexts. He starts by defining a hypothetical contract with a start date of April 8, 2020, and a duration of 12 months. To calculate the contract's ending date, he introduces the "EDATE" function, which requires a starting date and a number of months. The number of months can be positive or negative: a positive value advances the date forward, while a negative value moves it backward in time.