The document provides an overview of Apache Flink's event-time processing model and its applications in Flink SQL, highlighting concepts like watermarks, window types, and the trade-offs between correctness and latency. It discusses how event time is crucial for timely analytics and monitoring and presents different window types such as tumble, hop, cumulative, and session. The document emphasizes that Flink SQL simplifies event time processing and facilitates accurate computations despite challenges like out-of-order events.