It was kinda humiliating that after almost 5 years of photography (point&shoot camera for 2 years,advanced point&shoot 2 n half years, 1 month DSLR) that I discover about this function - perphaps previous P&S camera couldnt perform significant difference worthy of notice.
Basically there are 2 types of sequence in flash photography:
1) First curtain (normal) flash
2) Seconf curtain flash
In first curtain (normal), below is the sequence of events:
Shutter opens --> Flash shot --> Shutter opens for amount of time determined (i.e 3 seconds) --> Shutter Close
In second curtain:
Shutter opens --> pre-flash --> shutter opens for amount of time determined --> Flash shot --> Shutter Close
The major difference is when the Flash is shot, in the case of second curtain the flash is shot right before the shutter closes.
Situations you might find useful (or in pharma terms = indication):
Ever experienced where you and your friends are in a low light cosy environment where you wanted to capture the ambience but at the same time have your subject staying sharp? Normally under such circumstance, there are several solutions that most photographer would use:
(a) Set longer shutter speed
- but that would mean you are prone to blur and need to keep your camera and subjects still.
(b) Set higher ISO
-You compensate the quality of the image (high noise level), even though the best DSLR/lens can provide significantly still image at very high ISO with little noise, but you may have problem freezing moving subjects under very low light condition.
(c) Set bigger Aperture (smallest possible F value, i.e F2.8)
-It helps that with bigger aperture, the film (or photodiode to be precise) absorbs more light hence minimise blur with faster shutter speed, that that would mean compromising depth of field (imagine taking photos in large group with varying distance from camera).

Don't have L lens therefore biggest Aperture was Av3.5, even though ambience of background is captured with relatively still subjects, the resulting small depth of field (DOF) costed people from behind Joon Hun's distance to be blur even though they were standing still. This is because the focal point was at the girls (evaluative focus-not I ham sap purposely focus them) and DOF starts from there - resulting people further from them to be blur.
(d) Tripod
-Definitely the best solution, but presents mobility restrictions
(e) External Flash
-This is also the best solution and offers mobility. Point the flash towards the ceiling and let it bounce off your subject/ diffuser/ reflector to sufficiently light your subject but at the same time not overexposing your background with flash flight. Cost is the main problem-not everyone can afford a good external flash.
The cheaper solution? 2nd curtain flash - it gives you the ambience of the background and a sharp image of your subject (i.e good when photographing dancing couples under low light condition). I will show you what I meant:

2nd curtain flash. Tv 4 seconds, Av 4.0, ISO 100.
Notice I moved my camera AND finger around a lot (background blur) but the subject (finger) remains frozen.

2nd curtain flash. Tv 4 seconds, AV 4.0, ISO100. Notice that things that emit/reflect light has a trailing effect while things that don't stay still and sharp (because the flash shoots just before shutter closes, the strong flash light had masked any handshake/trailing/movement pre-flash that would otherwise result in a blur).

Kelantan mango sticky rice "fast" delivery.
Tv 6 seconds, AV5.0 (approx), ISO100.

Tv 6 seconds, AV5.0, ISO100
Notice my hand is sharp but lack opacity (like ghost) because when the shutter opens there were few seconds that my hand wasn't at where it is at the end of the shutter.

Metamorphosis-from small to big

Shutter speed was opened for 3-4 seconds with me spinning 360 degree.
Notice the subject is still very sharp, the faint background relatively sharp with ambience intact.
This is useful when photographing moving subjects in low light condition with the ambience retained.

No tripod. AV3.5, Tv 0.6 sec, ISO1600 (max variables settings). Photo taken with the photographer raising the camera to the higest point her hands could reach (whom you can see is relatively short :p), but the subjects are still blur - a situation that could be addressed with 2nd curtain flash (even though the background would still result in slight trailing lights)
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