Example:
First, find any photo which you like to use for this lesson.
Step 2
Create a new flash document. Press Ctrl+J key on the keyboard (Document Properties) and set the dimensions of your document as the dimensions of picture. Select white as background color. Set your Flash movie's frame rate to 32 and click ok.
Step 3
Call the current layer photo. Double-click on its default name (Layer 1) to change it. Press Enter once you have typed in the new name!
Step 4
Choose now File > Import > Import to stage (Ctrl+R) and import any photo into a flash stage.
Step 5
While the photo is still selected, press F8 key (Convert to Symbol) to convert it into a Movie Clip Symbol.
Step 6
While the new made Movie Clip (image) is still selected, go to the Align Panel (Ctrl+K) and do the following:
1. Make sure that the Align/Distribute to Stage button is turned on,
2. Click on the Align horizontal center button and
3. Click the Align vertical center button.
Step 7
Click now on frame 15 and hit F6 key on the keyboard. Go back now on the first frame, select the Selection Tool (V) and click once on the photo to select it. Then, go to the Properties Panel (Ctrl+F3) below the stage. On the right, you will see the Color menu. Select Advanced in it, click on Settings button and make the adjustments as follow:
Step 8
Right-click anywhere on the gray area between frame 1 and 15 on the timeline and choose Create Motion Tween from the menu that appears.
Step 9
Create a new layer above the layer photo and name it circle. After that, Select the Oval Tool (O) and draw a circle shape about 30x30px. See the picture below!
Step 10
Click now on frame 15 and hit again F6 key. While you're still on frame 15, select the Free Transform Tool (Q) and enlarge a circle shape like it is shown on the picture below!
Step 11
Go back now on the first frame and go again to the Properties Panel (Ctrl+F3) below the stage. On the left, you will see Tween drop down menu. Select Shape on it.
Step 12
Select now circle layer and convert it to a mask by right-clicking on the circle layer and selecting Mask. See the picture below.
Step 13
Create a new layer above the layer circle and name it photo again. After that, select the first frame of layer photo and press Ctrl+C key (Copy). Click now on frame 15 of layer photo again and hit F6 key. While you're still on frame 15, hit Ctrl+Shift+V key (Paste in Place).
Step 14
Click now on frame 30 of layer photo again and hit F6 key. Go back now on frame 15 of layer photo and press Ctrl+C key (Copy). After that, go back on frame 30 of layer photo 30 and press Ctrl+Shift+V key (Paste in Place).
Step 15
Right-click anywhere on the gray area between frame 15 and 30 on the timeline and choose Create Motion Tween from the menu that appears.
Step 16
Create a new layer above the layer photo again and name it circle again. 
Step 17
Click now on frame 15 of layer circle again and hit F6 key. Go back now on the first frame of layer circle and press Ctrl+C key (Copy). After that, select frame 15 of layer circle again and hit Ctrl+Shift+V key (Paste in Place).
Step 18
After that, place that circle shape that you just copied on some other place of photo. See the picture below!
Step 19
Click now on frame 30 of layer circle agan and hit F7 key (Blank keyframe). Go back now on frame 15 of layer circle and press Ctrl+C key. After that, select frame 30 of layer circle againa and hit Ctrl+Shift+V key (Paste in Place).
Step 20
Place now that circle shape that you just copied, on the same position as we place the first circle on frame 15. See the picture below!
Step 21
Go back now on frame 15 and after that, repeat step 11.
Step 22
Select now circle again layer and convert it to a mask by right-clicking on the circle again layer and selecting Mask. See the picture below.
Step 23
Click now on frame 30 of layer photo and circle and hit F5 key. 
We're done!
Repeat the process until you reach the end.
Have a nice day!
Download source file (.fla)
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