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In this video tutorial, Abdullah Hammond explains how to manage contract expiry dates, which is particularly useful for HR professionals but applicable in various fields. He starts by defining a contract's starting date, using April 8, 2020, as an example, and specifies a contract duration of 12 months. To determine the contract's ending date, he introduces the "EDATE" function, which calculates the date based on the starting date and a specified number of months. This function accepts both positive and negative values for months; a positive number moves forward in time, while a negative number moves backward. The tutorial emphasizes understanding these calculations for effective contract management.