If it isn't going at the pace of a college class, then it shouldn't be considered equivalent to a college class in the sense that students taking it aren't necessarily demonstrating their ability to do college level work.
My son is taking calculus at college this year. The first quarter covered most of what's in AB. The second quarter covered what's in BC. What is covered in the third quarter isn't even in the AP courses. But even the BC course isn't going at a college level pace (20 weeks vs 36 weeks).
