Problem with Flash and Cache

Hi all,

I am new to Flash and ActionScript platform. Presently, I am using ActionScript 3.0.I know only basics of Flash but not in depth.

My issue starts here:
For example, In Windows Operating System, Paint-brush uses Clipboard for temporary storage.
**My question is:  Does Flash have Cache(i.e., buffer for temporary storage)?**
         If Flash has Cache, then where does the temporary data gets stored, in what form, is the data accessible or atleast viewable?

  **Please, describe your answers to my above doubts with suitable concept within your replies .**
  Because, I am so eager to know the concept behind Cacheing in Flash  and my application development is dependent upon your replies.

Please, help me in this context…
It’s urgent…
Waiting for your reply…

Thanks a lot in advance…
Srihari.Ch