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In this session, Professor Farhad discusses forward contracts as a hedging instrument, covering the topic as part of advanced and international accounting, and its relevance to the CPA exam. He encourages viewers to connect with him personally through YouTube subscriptions, LinkedIn, and other social media platforms. He emphasizes the importance of hedging against foreign exchange rate risks, noting that engaging in foreign currency transactions incurs risk. The session builds upon principles established in a prior discussion, focusing on the implications of buying or selling in foreign currencies.