Disclaimer: my answer comes completely from digging around the files themselves.
.app
s are application bundles. They contain the executable file, an Info.plist
file, an icon, a launch image, and some other application resources. Application bundles are the only ones that actually get installed onto your device.
.ipa
s are archives that contain .app
bundles as well as some other files meant only for iTunes to use, for instance iTunesArtwork
. They are how iTunes manages applications, and as far as I can tell have little to do with the applications themselves other than App Store information.
I haven't worked with Flash CS5's export to iPhone feature, but you should be able to just drag your .ipa
file to iTunes and it'll appear in the Apps list.
And also is it possible to develop iphone application in Adobe flash professional cs5?
It is possible in the sense that your iPhone software won't crash permanently or something, but as phwd and David have said, your app will not make it to the App Store.