Snippets from the BPM6 Manual: Flows and Positions

" 3.2 Flows refer to economic actions and effects of events within an accounting period, and positions refer to a level of assets or liabilities at a point in time "

"3.3 Flows reflect the creation, transformation, exchange, transfer, or extinction of economic value; they involve changes in the volume, composition, or value of an institutional unit’s assets and liabilities."

Chapter 3, Page 29, BPM6

For more info : Balance of Payments and International Investment Position Manual - Sixth Edition (BPM6)