Economic Themes (2025) 63 (4) 6, 487-498
Selma Vidimlić
Abstract: The Ca score model was tested on a sample of 392 small and medium-sized enterprises (SMEs) of various activities in Bosnia and Herzegovina. After mathematical calculations, the companies from the sample were divided into two groups: companies in the first group had business continuity in 2017 and 2018, and those that failed to operate, i.e. had a forced blocking of transaction accounts with commercial banks for more than 30 days. The data for the research were taken from the companies' financial reports for 2016. Financial reports were taken from the state agency FIA. The scientific methods also used were the methods of analysis and synthesis, the comparative method, as well as the general method of the cognitive process. It was established that in transition countries, such as Bosnia and Herzegovina like, the tested CA score model is not fully adequate, and the reasons are found in the specificities of the transition countries. Slowness in the execution of financial obligations, untruthful presentation of balance positions, inconsistent and delayed implementation of legal obligations to exclude bad economic participants from economic flows are some of the specifics that reduce the predictive ability of the model for assessing business impairment.
Keywords: financial indicators; forecasting; failure; financial statements; Ca score; small and medium enterprises; insolvency
APPLICATION OF CA SCORE MODEL ON ENTERPRISES IN BOSNIA AND HERZEGOVINA
Selma Vidimlić
Abstract: The Ca score model was tested on a sample of 392 small and medium-sized enterprises (SMEs) of various activities in Bosnia and Herzegovina. After mathematical calculations, the companies from the sample were divided into two groups: companies in the first group had business continuity in 2017 and 2018, and those that failed to operate, i.e. had a forced blocking of transaction accounts with commercial banks for more than 30 days. The data for the research were taken from the companies' financial reports for 2016. Financial reports were taken from the state agency FIA. The scientific methods also used were the methods of analysis and synthesis, the comparative method, as well as the general method of the cognitive process. It was established that in transition countries, such as Bosnia and Herzegovina like, the tested CA score model is not fully adequate, and the reasons are found in the specificities of the transition countries. Slowness in the execution of financial obligations, untruthful presentation of balance positions, inconsistent and delayed implementation of legal obligations to exclude bad economic participants from economic flows are some of the specifics that reduce the predictive ability of the model for assessing business impairment.
Keywords: financial indicators; forecasting; failure; financial statements; Ca score; small and medium enterprises; insolvency
