Current Asset Management involves efficiently managing a company's short-term assets, such as cash, accounts receivable, inventory, and marketable securities, to ensure liquidity and operational efficiency. It focuses on optimizing the cash conversion cycle, minimizing costs, and maintaining a balance between profitability and risk. Effective management includes monitoring cash flows, credit policies, and inventory levels to meet short-term obligations and support business operations. It plays a critical role in maintaining financial stability and improving working capital.