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In this session, Professor Farhad discusses forward contracts as hedging instruments, applicable in advanced accounting, international accounting, and the CPA exam. He encourages viewers to connect with him via his YouTube channel, LinkedIn, Facebook, and Twitter for additional resources and personal engagement. The tutorial focuses on hedging against foreign exchange rate risks arising from foreign currency transactions, emphasizing that such transactions expose individuals and businesses to specific financial risks. Further details will elaborate on identifying and managing these risks effectively.