Here is some detailed information, hope it helps
Putting Flash Animation in PowerPoint
Follow these steps to put a Flash movie in your PowerPoint presentation
for awesome animation.
1. Write down the location of the SWF file you want to use.
2. Choose View>Toolbars>Control Toolbox.
3. Click the Hammer button (More Controls).
4. Choose Shockwave Flash Object from the menu.
5. Drag a box across the screen to get the desired size and location.
6. Right click the box and choose Properties.
7. In the Properties window, click the top line, Custom. Then click the
ellipsis at the right.
8. In the Property Pages dialog box, type the location of the SWF file
that you wrote down earlier. Use the full path.
9. Set the other parameters, if you wish, for example, Quality: best;
Scale: show all; Window: window.
10. Click Embed movie if you want to make sure it's always included
with the PP presentation.
11. Click OK.
12. Close the Properties window using its close box.
13. Choose Slide Show view to see the movie. If your movie didn't
appear in Normal view, it will appear when you return to Normal view
after running the slide show.
PowerPoint Flash, Flash Presentation tips
http://www.sameshow.com/other/powerpoint-tips.html