When you want to give someone a URL for the contact page of your website, they can access that page directly by entering that URL in the browser’s address bar.   With flash sites you usually have to say , “Go to mysite.com, click About MyCompany, and click Contact Us.”  If an entire website is built in a single FLA file in Flash, then when the file is published and the resulting SWF file is placed on a web page, there is only a single page—a single URL—to load in the browser for accessing the entire site. There is no way to access any section of the site directly.

I have several pages on my site that use the “flash menu” for navigation but are actually single url pages for easy linking.

This article talks about publishing “Flash with Named Achors”.

Adobe – Developer Center : Deep-linking to frames in Flash websites.