The Flash Tools panel includes the tools you need to create, select, or edit graphics on the Stage.
(i) The double arrows at the top of the Tools panel are used to collapse the panel to icon only view, or to expand the panel and see all the tools.
(ii) By default, the toolbar is on the right side of your screen.
(iii) The single capital letter in parentheses indicates tile keyboard shortcuts to select those tools.

3D Rotation Tool (W)
It is used to create 3D effects by rotating movie clips in 3D space on the Stage.
3D Translation Tool (G)
It is used to create 3D effects by moving movie clips in 3D space on the Stage. The 3D Rotation and the 3D Translation tools are grouped within one icon on the Tools panel.
Lasso Tool (L)
It is used to select objects or parts of objects by drawing a freehand.
Pen Tool (P)
It is used to draw lines and curves by creating a series of dots, known as anchor points, that are automatically connected. Other tools used to add, delete, and convert the anchor points created by the Pen tool are  grouped with the Pen tool.
Text Tool (T)
It is used to create and edit text.
Line Tool (N) 
It is used to draw straight lines. You can draw vertical, horizontal, and 45° diagonal lines by pressing and holding Shift key while drawing the line.
Rectangle Tool(R)
It is used to draw rectangular shapes. Press and hold Shift key to draw a perfect square.
Oval Tool (O)
It is used to draw oval shapes. Press and hold Shift key to draw a perfect circle.
Subselection Tool (A)
This tool is used to select, drag, and reshape an object. We know that vector graphics are composed of lines and curves (each of which is a segment) connected by anchor points. When you select art object with this tool, it displays the anchor points and allows you to use them to edit the object.
Free Transform Tool (Q)
It is used to rotate, scale, skew, and distort objects.
Gradient Transform Tool (F)
It is used to transform a gradient fill by adjusting the size, direction, or center of the fill. The Free and Gradient Transform tools are grouped within one icon on the Tools panel.
Primitive Rectangle and Oval (R)
It is used to draw objects with properties such as corner radius or inner radius, that can be changed using the Properties panel.
PolyStar Tool
It is used to draw polygons and stars. The Rectangle, Oval, Primitive, and PolyStar tools are grouped within one tool on the Tools panel.

  The Flash CS6 workspace includes a variety of tools and other components that you work with to create Flash applications.

Flash Window Components
The Flash window is divided into four main components. They are
1. Stage and Pasteboard
2. Timeline
3. Tools panel
4. Property Inspector
1. Stage and Pasteboard:
(i) The white rectangle area in the middle of your workspace is called the Stage.
(ii)  All the animations, objects and scenes for a Flash movie are created, edited, placed and played back in the stage.
(iii) The gray area surrounding the Stage in Flash is the Pasteboard.
2. Timeline
(i) The time line is one of the most important components of Flash.
(ii) It is located below the Stage. It is used to specify of each element's appearance and animation.
(iii) The Timeline also contains Frames and Layers.
(iv) Flash movies measure time in frames. Frames are the discrete, small slices of time.
3. Tools panel
(i) The Flash Tools panel includes the tools you need to create, select, or edit graphics on the Stage.
(ii) The double arrows at the top of the Tools panel are used to collapse the panel to icon only view, or to expand the panel and see all the tools.
4. Property Inspector
(i) The Property Inspector appears on the right side of your Flash workspace by default.
(ii) It is grouped with the Library panel.
(iii) It displays properties and options for objects selected on the Stage, and also allows you to modify them.
(iv) The object can be text, an image, a line, or any other shape.