Second grade math includes solid understanding of place values, addition and subtraction with regrouping, basic multiplication and division such as 7 times 3 or 36 divided by 12 ( using addition and subtraction as basis, not memorized timetables), knows how to read time and count money, has a good concept of various types of measurements (distance, weight, area, etc), good understanding of fractions, can read and create basic bar graphs, and can solve real life problems using all the stuff learned.
This is accurate in my experience, although DD also began to accelerate in 2nd grade math, so we added in some other stuff. Definitely time, money, and regrouping with two-digit numbers in addition and subtraction. DD also did a lot of fact memorization in second. I actually thought 2nd was an important year, after a wasted year in 1st, but we also switched schools and curricula that year.
