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AARHUS SYMPOSIUM ANNUAL REPORT 2015 WWW.AARHUS-SYMPOSIUM.ORG

Aarhus Symposium - Annual Report 2015

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Page 1: Aarhus Symposium - Annual Report 2015

AARHUS SYMPOSIUM

ANNUAL REPORT 2015

WWW.AARHUS-SYMPOSIUM.ORG

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PROGRAMME MARKETING

BUSINESS RELATIONS ESSENTIALS

FINANCE UNIVERSITY ALLIANCES

STEERING COMMITTEE

Alexander Mørch ValstedAnn Christina PedersenRune Lysdahl Sørensen

IT

Mathias Frederik von Appen SchrøderMoma VujisicSimon Thunø

Johanne Ørndrup (Co-Head of Group)Ebbe Faurschou (Co-Head of Group)Tulle MouridsenNikolaj HedelundRasmus ØstergaardSara PoulsgaardThorbjørn Martensen

Anna Hermansen (Co-Head of Group)Nikolaj Gjøde (Co-Head of Group)Kasper TuborghRasmus Yang BjelkeRasmus Palsten NielsenTine Glahn WernlundTina Mørch Nielsen

Line Møgelvang Villadsen (Co-Head of Group)Mathias Barløse (Co-Head of Group)Anders Laden ThomsenCamilla TaulbækJulie Krieger Fregerslev Andresen

Camilla Sommer Thomsen (Head of Group)Christian Elmkjær AndersenJacob Saugstrup AndersenKristian IversenNikolaj Krog Knudsen

Johan Stax Jakobsen (Head of Group)Kristoffer LundquistLars Hansen

Stefanie Kerstin Krüger Petersen (Head of Group)

ORGANISING COMMITTEE 2015

NAMEAarhus Symposium

ADDRESSAarhus SymposiumStudenterlauget, Building S, Plan 4Fuglesangs Allé 48210 Aarhus VDenmark

WEBPAGEwww.aarhus-symposium.org

EMAIL [email protected]

CVR33735782

AUDITING PERIOD January 1, 2015 – December 31, 2015

EDITORS Lars HansenJohan Stax JakobsenKristoffer Plenov Lundquist

GRAPHIC DESIGNRasmus Yang Bjelke

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LETTER FROM THE CHAIRMAN OF THE BOARD

After the most successful execution of Aarhus Symposium ever seen, it is my pleasure to present the final words of Aarhus Symposium 2015.

Once again Aarhus Symposium has attracted the most ambitious and dedicated students who have worked hard to ensure a significant advancement of the organisation and the concept as a whole. Past goals have been met and exceeded and new standards have been set for years to come. I am proud to say that I am surprised by how much this year’s organising committee has accomplished in just one year.

Aarhus Symposium managed to attract the world’s best CEO Lars Rebien Sørensen from Novo Nordisk and a number of other distinguished leaders as speakers. In fact, the organising committee signed the most international speaker line-up Aarhus Symposium has ever seen. This gave rise to inspiring talks and debates throughout the day for the benefit of our participants. The organisers also completely redesigned and rethought the website to make it more engaging and informing for our stakeholders. Here, they have shared the theme video and the page “Exploring Leadership and Technology”, where the reader can dive into the megatrends observed during the day, and learn more about the theme of the year.

Another area of interest has been to increase national awareness of and participation in Aarhus Symposium, which resulted in the creation of the new University Alliances group. This group has successfully established partnerships with other student associations across the country, and the impact was clear when looking at the significant rise in the share of Challenge essays submitted from non-AU students. The interest helped increase the number of submitted essays to almost 400.With the realisation of Aarhus Symposium 2015 it is hard to pinpoint how the concept can be improved as the organisers of this year’s symposium have shown true dedication and resource-fulness. However, as the organising committee of Aarhus Symposium 2016 take shape we will see new ideas on how to challenge the conventions and we at the board are confident that Aarhus Symposium will reach new heights yet again in 2016.

On behalf of the Executive Board of Aarhus Symposium,

Nina Smith, Chairman of the Board

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BOARD OF DIRECTORS’ STATEMENT

The Board of Directors have today considered and approved the annual report for the financial year January 1 through December 31, 2015.

The annual report is presented in accordance with Danish generally accepted accounting principles. In our opinion, the financial statements give a true and fair view of the financial position on December 31, 2015 and of the financial performance for the financial year January 1 to December 31, 2015.

In our opinion, the management review contains a true and fair view of the affairs and conditions referred to herein.

We recommend that the annual report be adopted at the annual general meeting.

Aarhus, March 11, 2016.

Nina Smith

Philipp Schröder

Jens Riis Andersen

Ditlev Engel

Jan Beyer Schmidt-Sørensen

Kasper Vinther Olesen

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INDEPENDENT AUDITOR’S REPORT

REPORT ON THE FINANCIAL STATEMENTSWe have audited the financial statements of Aarhus Symposium for the financial year January 1, 2015 to December 31, 2015, which comprise the accounting policies, income statement, balance sheet, statement of changes in equity, and notes. The financial statements are prepared in accordance with Danish generally accepted accounting principles.

MANAGEMENT’S RESPONSIBILITY FOR THE FINANCIAL STATEMENTSManagement is responsible for the preparation of financial statements that give a true and fair view in accordance with Danish generally accepted accounting principles and for such internal control as Management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

AUDITOR’S RESPONSIBILITYOur responsibility is to express an opinion on the financial statements based on our audit. We conducted our audit in accordance with International Standards on Auditing and additional requirements under Danish audit regulation. This requires that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditor’s judgement, including the assessment of the risks of material misstatements of the financial statements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to the entity’s preparation of financial statements that give a true and fair view in order to design audit procedures that are appropriate in the circumstances, but

not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made by Management, as well as the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Our audit has not resulted in any qualification.

OPINIONIn our opinion, the financial statements give a true and fair view of the Organisation’s financial position at December 31, 2015 and of the results of its operations for the financial year January 1, 2015 to December 31, 2015 in accordance with Danish generally accepted accounting principles.

STATEMENT ON THE MANAGEMENT COMMENTARYPursuant to Danish generally accepted accounting principles, we have read the management commentary. We have not performed any further procedures in addition to the audit of the financial statements.

On this basis, it is our opinion that the information provided in the management commentary is consistent with the financial statements.

Aarhus, March 11, 2016.

DELOITTE CVR 33963556Statsautoriseret Revisionspartnerselskab

Klaus Tvede-Jensen Mads FauerskovState Authorised State AuthorisedPublic Accountant Public Accountant

TO THE MEMBERS OF AARHUS SYMPOSIUM

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MANAGEMENT’S COMMENTARY

INTRODUCTIONThe planning and execution of Aarhus Symposium 2015 have come to an end, and it is time to reflect on the changes and improvements that we have made throughout the year. The overall aim for the organising committee of 2015 has been to consolidate Aarhus Symposium in the minds of the students and the universities across the country as well as delivering a renewed focus on academics and professional inputs.

ACHIEVEMENTSThe organising committee secured the most international speaker line up ever seen at Aarhus Symposium, and we had the pleasure of welcoming the world’s best CEO Lars Rebien Sørensen from Novo Nordisk to speak and engage with the students.

We saw an all-time high interest from students to secure a seat by participating in the Aarhus Symposium Challenge. A record 383 essays were submitted by students not only from Aarhus University but also from other Danish universities. We launched the article “Exploring Leadership and Technology” on our redesigned

website to elaborate on the megatrends that was discussed throughout the day. This is our first step towards our goal of contributing to society and the public debate.

This year witnessed the best execution of Aarhus Symposium to date. The surroundings at Campus Fuglesangs Allé gave unique opportunities for the organisers as we utilised experiences from last year. We managed to arrange the breaks and the final dinner for the participants to exceed all standards and we received very satisfactory feedback from the speakers and the participants in general. This also extends to the Corporate Lounge that saw a huge improvement by delivering a more exclusive atmosphere to the corporate participants.

INTERNAL PROCESSESIt has been a great focus for us to improve the internal processes of the organisation to ensure increased efficiency and quality for the years to come. We have implemented changes with the primary goal to help future organising groups start the initial preparation of the coming symposia earlier.

VISION AND VALUES

WE INSPIREARE AMBITIOUS ARE INSIGHT-BASED CONNECT CHALLENGE

We aim at delivering the best platform for students to connect, interact, and challenge today’s leaders in business and society on challenges and solutions of tomorrow.

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One concern has been that a significant share of the committee are organisers for the first time. This is a challenge for the organisation because much of the planning already should be well underway in December and January.

Of two initiatives, the first has been to choose the theme for 2016 early in collaboration with our Alumni Board. By this we can invite speakers even earlier and it makes the work of the Programme Group easier.

The second initiative has been to create a new and simpler partnership structure. This gives more leeway to the Business Relations Group to tailor the partnerships to the specific companies. This is expected to increase our partners’ engagement in Aarhus Symposium and our participants.

FINANCIALAarhus Symposium 2015 generated a profit of 36,965 DKK from revenue of 658,116 DKK. This is a small decline in profits compared to last year and in line with the wishes of our Board of Directors. The profit is suggested to further consolidate the organisation.

Therefore, the Steering Committee suggests that the profit for 2015 is transferred to equity. This will enhance the opportunity to launch new initiatives and to handle the potential issue of volatile funding in future years.

THE STEERING COMMITEE OF AARHUS SYMPOSIUM 2015 AND 2016

Alexander Mørch Valsted

Line Møgelvang Villadsen

Ann Christina Pedersen Rune Lysdahl Sørensen

Camilla Sommer Thomsen

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Every year, the first Friday of November, key decision-makers and leaders of today are invited to share their experiences and engage in discussions with ambitious students. Aarhus Symposium is an event of extraordinary class with the objective to connect students, the leaders of tomorrow, with key decision-makers, the leaders of today.

The theme for Aarhus Symposium 2015 was “Leadership and Technology”. Technology constantly changes the way the world functions, and it is an important tool in tackling the problems faced by the modern world. This year we invited 13 speakers from a great variety of areas to examine how smarter cities, consumer technology, clean technology, and digitisation can help solve these problems. Evidently, the theme had a broad scope and so we collected the key findings under the title “Exploring Leadership and Technology” on our website for future reference as well as an opportunity for those who were unable to attend our events.

THIS YEAR’S ACTIVITIES

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TRACK 1 TRACK 2 TRACK 4TRACK 3

SMARTERCITIES

CLEANTECH

CONSUMERTECH

INFORMATION TECHNOLOGY

FIRST BREAK: COFFEE AND TEA ARE SERVED BY GROWER’S CUP AND CAN BE ENJOYED WITH FRUIT FROM AARSTIDERNE.

ARLA BREAK: DELICIOUS SNACKS AND BEVERAGES ARE SERVED BY ARLA.

THIRD BREAK: COFFEE AND TEA ARE SERVED BY GROWER’S CUP AND CAN BE ENJOYED WITH SWEETS SERVED BY CANBLAU.

THE WINNER OF THE AARHUS SYMPOSIUM AWARD WILL BE ANNOUNCED IN THE ARLA AUDITORIUM BETWEEN 18.10 – 18.30. AFTERWARDS WE ENCOURAGE MINGLING WHILE A LIGHT TAPAS PLATE FROM CANBLAU IS SERVED WITH A GLASS OF CAVA.

ARLA AUDITORIUMLOWER S, S-BUILDING

NORDEA AUDITORIUMM3, M-BUILDING

HEMPEL AUDITORIUMM2, M-BUILDING

CLIMATE AND TECHNOLOGY DEBATE

JENS-PETER SAULGroup CEO,

Ramboll Group

CONNIE HEDEGAARDChairman of the Board,

KR Foundation

SIMON GILESGlobal Cities Lead,

Accenture

ROBERT UGGLACEO,

Svitzer

LARS REBIEN SØRENSENPresident & CEO,

Novo Nordisk

MADS NIPPERGroup President & CEO,

Grundfos

CHRISTIAN CLAUSENSenior Advisor & Former CEO,

Nordea

EVA BERNEKECEO,KMD

LARS FRELLE-PETERSENDirector General,

Danish Agency for Digitisation

DANIEL DABOCZY & ARNO SMITCo-Founders,FundedByMe

CHRISTIAN STADILCEO,

Thornico

TIME

12.30

13.30

14.00

15.00

15.30

16.30

17.00

18.00

11.30 CHECK-IN: AARHUS SYMPOSIUM 2015 OFFICIALLY OPENS AT 11.30. REMEMBER TO BRING YOUR TICKET TO THE MAIN ENTRANCE AT THE S-BUILDING, AARHUS BSS. WHILE WAITING FOR THE PROGRAMME TO BEGIN, DELICIOUS SANDWICHES WILL BE SERVED.

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“The Aarhus Symposium is an extremely well- organised and professional conference, meeting and even exceeding the standards of many global conferences I attend.”

Christian ClausenSenior Advisor & Former President and CEO, Nordea

Speaker at Aarhus Symposium 2015

EXPLORING LEADERSHIP AND TECHNOLOGY

CREATING A SMARTER AND GREENER WORLDThe formula for a smarter and greener world is still under experimentation. Yet, one ingredient was agreed upon; we need a consistent citizen-centric view as the key driver of any initiative, when designing cities and nations of the future – making technology the servant, not the master. In this way, there is potential to create a digital and physical environment that naturally induces a more sustainable behaviour from the different “users”.

Despite the global nature of climate and resource challenges, solutions should preferably have a local origin, before scaling it up. To become successful, they must address the exact pains and needs that citizens, businesses, and local governments in that specific area experience in order to create the right incentives that will lead to a smart and green behaviour.

NEW MODELS FOR VALUE CREATIONThroughout the value chain of almost every incumbent, technology can enable an increase in efficiency and cut costs. Digitising both frontend and backend operations are no longer an option, but as most businesses have

experienced by now; it is a prerequisite in building the “new factory”.

New ideas for products, services, and businesses can be mobilised by technological communication platforms. Moreover, they experience a shorter time to market. In fact, consumers increasingly become co-developers in the new model for value creation together with businesses, setting the agenda in these digital relationships.

By the means of technology, businesses can also enhance their relationships with customers and consumers that enable them to (get to) know their habits, needs, and networks in new ways, e.g. through data and analysis. In this way, incumbents as well as start-ups can build a solid foundation for digital value creation through simplicity, accessibility, and personalisation.

Especially, the internet makes it easier and cheaper to test and collaborate on ideas, and for start-ups in particular this provides valuable feedback from others before investing it all. Moreover, phenomena like crowdsourcing and crowdfunding are consolidating themselves, creating new entry points into existing and new markets.

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LEADING DIGITAL TRANSFORMATIONThe times of being able to “predict” the future in five or even ten year plans and strategies for an organisation are over. No one knows what tomorrow brings; what will be the next big thing and the next big technology to invest in? And what will be the extent of its impact on consumers, citizens, businesses, and governments? As a leader, how should you approach such uncertainty?

For a leader in a private organisation, one piece of advice is to keep focus on what the business is good at and invest in technology primarily to support and to develop exactly that; do not try to encapsulate it all, at least not at once. Accordingly, companies should choose the opportunities that they want to make use of with care. At the end of the day, what matters are not the changes in technology, it is the changes in and between the people of the organisation.

For a leader in a public organisation, digitisation is indeed an essential tool for increasing

efficiency and lowering costs, while at the same time being able to improve services. However, this challenges the ways the public sector is currently organised – and calls for a break with traditional silos in government. Moreover, there is an ambivalent relationship between moving forward in the public sector, following the technological development, and sticking to the rules and regulations, following the book. Often, legislation is what increases the complexity of digitisation in the public sector.

To have success with a digital transformation, a leader of any kind in any sector must recognise people and culture as the overruling factor. The challenge is not about engineering and building the technology. Rather, it is about getting the users of it to get on board; citizens, consumers, employees, etc. Clearly, traditional leadership skills become more important than ever, when going through such extensive changes.

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AARHUS SYMPOSIUM CHALLENGEThe Aarhus Symposium Challenge is an annual essay competition for students eager to participate in Aarhus Symposium. Each year three leaders from business and society formulate a challenge related to the annual topic.

All qualified contributions secure a seat at Aarhus Symposium in advance of the official sign-up, and the authors of the best challenge essays are invited to the Leaders’ Forum. The single best contribution is honoured on stage with the Aarhus Symposium Award. For this year’s Aarhus Symposium Challenge Christian Stadil, Connie Hedegaard, and Robert Uggla were challenged by the students, and the winning essay was written by Oskar Harmsen challenging Christian Stadil on the topic “Ensuring the Success of a Startup”.

BATTLE OF THE ECONOMISTSBattle of the Economists is an event aimed to inspire and stimulate the participant’s minds on the theme of Aarhus Symposium from an economic perspective. The event takes place on Monday in the week of Aarhus Symposium, and offers students the opportunity to engage in an economic discussion between leading economists.

This year’s theme of Battle of the Economists was “Go green, now?”. In the last few years, Denmark has set out to become one of the greenest countries in the world. Successive Danish governments have focused on supporting sustainable technologies through green policies, causing a Danish green technology hub to emerge. Today, Denmark is considered to be in a leading position in terms of offering sustainable solutions. This year we invited Ditlev Engel, Thomas Dalsgaard, and Michael Svarer to give their take on whether Denmark should go green now through presentations and the following debate.

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BOARD OF DIRECTORSThe Board of Directors is the highest authority of Aarhus Symposium and is established to promote the continuity and stability for Aarhus Symposium. The Board consists of highly visionary and dedicated executives who provide the overall directions for the Organising Committee. The members of the Board of Directors are elected for a three-year period and the current board members are:

Nina Smith, Chairman of the Board of Directors

Kasper Vinther Olesen, Vice Chairman of the Board of Directors and Co-founder of Aarhus Symposium

Philipp Schröder

Ditlev Engel

Jan Beyer Schmidt-Sørensen

Jens Riis Andersen, Co-founder of Aarhus Symposium

ALUMNI NETWORKAarhus Symposium has an extensive Alumni Network consisting of former organisers. The Alumni Network serves as a support system for the current Organising Committee, both on a practical level and on a more strategic level. Each year the Alumni Network is invited to participate in an annual Alumni Day, to share experiences and assist the current Organising Committee in concrete challenges faced at this year’s symposium. The Alumni Day also gives a suggestion to the future heading of Aarhus Symposium.

STEERING COMMITTEEThe Steering Committee consists of two to three students at Aarhus University. The Steering Committee is appointed for a one-year period by the Board of Directors and the retiring Steering Committee. The Steering Committee is responsible for the overall planning and effectuation of Aarhus Symposium including the assembly of the Organising Committee.

ORGANISATION AND GOVERNANCE

Aarhus Symposium consists of three layers of governance: The Board of Directors, the Steering Committee and the Organising Committee, whom are all supported by an extensive Alumni Network.

“I am super impressed. The entire vibrancy and the students’ challenging questions show that this is a high quality event.”

Mads NipperGroup President & CEO, Grundfos

Speaker at Aarhus Symposium 2015

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Aarhus Symposium is a result of the hard work and dedication of voluntary university students. The Organising Committee consists of 30-35 highly motivated students from different areas of study, who are all committed to make each symposium greater than the former and create unique experiences for their fellow students, the speakers, and the partners.

ORGANISING COMMITTEE

BUSINESS RELATIONSThe Business Relations Group is responsible for securing funds through partnerships and foundations. The group also creates a variety of settings where the partner companies can connect with the students.

ESSENTIALSThe Essentials Group executes the events of Aarhus Symposium by coordinating the team in great detail. They also contact companies that might benefit by sponsoring products to our events.

FINANCEThe Finance Group draws the annual budget for Aarhus Symposium and ensures a sound financial performance that is in line with our non-profit objective. They are also responsible for writing the annual report.

ITThe IT Group manages the development and up keep of our website and the organisation’s technical infrastructure. They ensure that all direct communication reaches our participants as well as a smooth execution of the sign-up process.

MARKETINGThe Marketing Group creates the overall marketing strategy and ensures that Aarhus Symposium and our offering is communicated widely to the students and our stakeholders. They manage our presence on the social media and handles the general media and press releases.

PROGRAMMEThe Programme Group is responsible for inviting speakers for both Battle of the Economists and the main event of Aarhus Symposium. They have a detailed knowledge about the theme and the speakers as they take great part in the writing of the Booklet.

UNIVERSITTY ALLIANCESThe newly created University Alliances Group communicates Aarhus Symposium to all major universities in Denmark. Through several events across the country they ensure that we attract the interest from the best students to attend our events.

“It has been a great pleasure for me to explore and exploit my competencies, while working in such an inspirational organisation like Aarhus Symposium.”

Tine Glahn WernlundOrganising Committee (Marketing Group), Aarhus Symposium 2015

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ACCOUNTING POLICIES

RECOGNITION AND MEASUREMENTAssets are recognised in the balance sheet when it is probable as a result of a prior event that future economic benefits will flow to the Organisation, and the value of the asset can be measured reliably.

Liabilities are recognised in the balance sheet when the Organisation has a legal or constructive obligation as a result of a prior event, and it is probable that future economic benefits will flow out of the Organisation, and the value of the liability can be measured reliably.

On initial recognition, assets and liabilities are measured at cost. Measurement subsequent to initial recognition is effected as described below for each financial statement item.

Anticipated risks and losses that arise before the time of presentation of the annual report and that confirm or invalidate affairs and conditions existing at the balance sheet date are considered at recognition and measurement.Income is recognised in the income statement when earned, whereas costs are recognised by the amounts attributable to this financial year.

INCOME STATEMENTRevenueRevenue consists of partnerships sold, tickets sold, etc. Revenue is recognised in the income statement when delivery is made and risk associated with the consideration selected has passed to the buyer.

Revenue is recognised net of VAT, duties, and sales discounts.

Other IncomeOther income comprises gifts. Gifts are recognised when granted.

Other External ExpensesOther external expenses comprise expenses for distribution, sale, marketing, administration, premises etc.

Financial Income and ExpensesFinancial income and expenses comprise interest income and expenses and are recognised when accrued.

BALANCE SHEETReceivablesReceivables are measured at amortised cost usually equalling nominal value less provisions for bad debts.

PayablesPayables are measured at amortised cost usually equalling nominal value.

The annual report is presented in accordance with Danish generally accepted accounting principles. The financial statements have been presented applying the accounting policies consistently with last year.

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INCOME STATEMENT

2015 2014Notes DKK DKK

Revenue 453,116 376,027 Other income 205,000 160,000 Other external expenses 1 -619,897 -489,400 Operating profit 38,219 46,627

Other financial income -1,254 -276 Profit for the year 36,965 46,351

Proposed distribution of profitProfit for the year 36,965 Profit available for distribution 36,965

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BALANCE SHEET AT DECEMBER 31, 2015

2015 2014Notes DKK DKK

Accounts receivable 9,573 25,000 Other receivables 2 79,517 39,142 Receivables 89,090 64,142

Cash 149,305 176,632

Current assets 238,395 240,774

Assets 238,395 240,774

Retained earnings 238,395 201,430 Equity 238,395 201,430

Trade payables - 10,343 Other payables - 29,001 Short-term liabilities other than provisions - 39,344

Liabilities other than provisions - 39,344

Equity and liabilities 238,395 240,774

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EQUITY AT DECEMBER 31, 2015

Retained earnings

DKK

Equity at January 1, 2015 201,430 Profit/loss for the year 36,965 Equity at December 31, 2015 238,395

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NOTES

2015 2014DKK DKK

1. Other external expensesSteering 165,841 161,694 Programme 50,724 35,323 Marketing 60,104 46,716 Essentials 290,431 238,618 Business Relations 38,018 7,049 University Alliances 14,779

619,897 489,400

2. Other receivablesVAT and duties 79,517 39,142

79,517 39,142

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GOLDPARTNER

SILVERPARTNERS

PLATINUMPARTNER

BATTLE OF THEECONOMISTS PARTNERS

PARTNERS

IN COLLABORATIONWITH

for students by students

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HRPARTNER

KNOWLEDGEPARTNER

MARKETINGPARTNER

SUPPORTINGORGANISATIONS

PRODUCTPARTNERS

FOUNDATIONS

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WWW.AARHUS-SYMPOSIUM.ORG