The basic indicators of manufacturing industry's level of development are still at an unenviable level, although it provides the majority of tradable goods of Serbian economy and has the most significant share in gross domestic product. This state of the manufacturing industry in Serbia is the result of an unstable macroeconomic environment and institutional insecurity, as well as an inadequate management approach in companies of this sector. Taking into account the situation, there is an

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... s need to change management approach in these companies, which includes improving their budgeting processes and systems. Budgeting, as a management instrument, has become important in companies in Serbia only in the last decades, that is, after the change of the economic system. The results of the conducted empirical study, aiming to perceive the current state and relevant management attitudes regarding the implementation of certain budgeting concepts in manufacturing companies in Serbia, are presented in this paper. The study aims to determine the current presence of certain budgeting concepts, as well as which concepts the management of the sample companies intends to implement in the future, since it considers them an appropriate and a good solution for its company, taking into account the specifics of its environment and business. The presented results will show whether manufacturing companies in Serbia follow global trends in budgeting practices that relate to the implementation of modern budgeting concepts with flexibility, customer focus and performance based as their key features.