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In this video tutorial, Abdullah Hammond discusses how to manage contract expiry dates, primarily for HR professionals but applicable in other fields as well. He begins by defining a sample contract with a start date of April 8, 2020, and a duration of 12 months. To calculate the contract's end date, he introduces the "EDATE" function, which requires a starting date and a specified number of months. The function allows for both positive and negative month inputs: positive values extend the date forward, while negative values move it backward in time. This method effectively helps track contract expiration and aids in better contract management.