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In this video, Abdullah Hammond guides viewers on managing contract expiry dates, focusing on relevance for HR professionals and other applications. He demonstrates using a function called "EDATE" to calculate the ending date of a contract based on its starting date. For example, starting from April 8, 2020, and specifying a contract duration of 12 months, the EDATE function will determine the end date by adding the specified number of months. Positive values move the date forward, while negative values move it backward. This methodology helps track contract durations effectively.