This second annual report to the Florida Legislature and the State Board of Education reviews the reasons for student acceleration programs, the methods of acceleration, and the financial implications of time-shortened degree programs. Statistical data are provided on the number of Florida high school and postsecondary students taking advantage of the different forms of acceleration during the year 1973-74. Data on the number of students utilizing advanced placement programs, dual enrollment, early admission, equivalency tests or credit by examination, job entry studies plans, and student performance-based promotional plans are presented. Appendixes include Florida statutes and regulations governing time-shortened educational programs. (Author/DS)