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In this session, Professor Farhad discusses forward contracts as a hedging instrument, relevant to advanced and international accounting as well as the CPA exam. He encourages viewers to connect with him through his YouTube channel, LinkedIn, Facebook page (Accounting Lectures), and Twitter. The focus of the session is on hedging foreign exchange rate risks associated with foreign currency transactions, emphasizing that buying or selling in a foreign currency exposes individuals or companies to risk. The video builds on prior discussions, aiming to help viewers understand these concepts in depth.