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In this video, Abdullah Hammond demonstrates how to manage contract expiry dates, a valuable skill for HR professionals and others. He explains how to determine a contract's duration using a start date, exemplifying with an April 8, 2020 start date and a 12-month duration. To calculate the contract's ending date, he introduces the EDATE function, which requires the starting date and the number of months to add or subtract. Positive values move the date forward, while negative values move it backward. This method helps in tracking contract timelines effectively.