This simple video tutorial teaches you how to change the pivot point position when using Flash.
The tutorial handles drawing basic shapes, such as squares and rectangles and converting them to movie clips.
Then, through the use of the free transform tool and by manually moving the pivot point it demonstrates how to rotate the object around the new pivot point instead of around its center, which is the default preset.
The tutorial concludes the presentation by creating a short animation presenting rotation of objects around an alternative pivot point.
The video itself last for a little over a minute, but manages to explain the procedure adequately.