Sounds like this has been addressed by others, but our experience with acceleration and testing/grades has been:
- when subject accelerated, dd's grade is based upon her performance on the grade level material she is being taught (so if I had a 3rd grader in 4th grade for a subject, she'd be judged against 4th grade stds for the grade on her report card). However, her NCLB (state) tests were still given at her overall grade level. In other words, she still took 3rd grade state tests.
- when whole grade skipped, her grades and tests were, obviously, all based on the grade into which she was skipped. So, my 10 y/o 6th grader was taking 6th grade state tests and her grades were as compared to 6th grade stds in all subjects.
I like what my younger dd's school does in relation to subject accelerated kids and transcripts. There is a spot on the report card that says "instructional level" next to each grade. A 5th grader who is in an accelerated 5th grade math class would still get a "G" on this meaning "grade level." He is doing accelerated work for grade level, but it is still grade level.
A 5th grader who is doing 6th grade reading or math gets an "AG" (above grade level) demarcation on this spot indicating that he is being subject accelerated.
I do believe that it could be more specific for situations like yours where the child is being subject accelerated multiple grades. That may be a moot point where I live, though, b/c I've never known either district to subject accelerate a child more than one grade level in any subject.