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In this session, Professor Farhad discusses forward contracts as a hedging instrument, a topic relevant in advanced and international accounting, as well as the CPA exam. He encourages viewers to visit his website and YouTube channel for additional lectures. Professor Farhad expresses his desire to connect with his audience personally and invites them to subscribe to his YouTube channel, connect on LinkedIn, like his Facebook page, and follow him on Twitter. He begins to explain the concept of hedging foreign exchange rate risk, noting that engaging in foreign currency transactions can expose individuals to significant risks.