http://www.ed.gov/about/bdscomm/list/mathpanel/report/conceptual-knowledge.doc

The exec summary says this:

What is usually called Algebra I would, in most cases, cover the topics in Symbols and Expressions, and Linear Equations, and at least the first two topics in Quadratic Equations. The typical Algebra II course would cover the other topics, although the last topic in Functions (Fitting Simple Mathematical Models to Data), the last two topics in Algebra of Polynomials (Binomial Coefficients and the Binomial Theorem), and Combinatorics and Finite Probability are sometimes left out and then included in a pre-calculus course. It should be stressed that this list of topics reflects professional judgment as well as a review of other sources.Symbols and Expressions

• Polynomial expressions

• Rational expressions

• Arithmetic and finite geometric series

Linear Equations

• Real numbers as points on the number line

• Linear equations and their graphs

• Solving problems with linear equations

• Linear inequalities and their graphs

• Graphing and solving systems of simultaneous linear equations

Quadratic Equations

• Factors and factoring of quadratic polynomials with integer coefficients

• Completing the square in quadratic expressions

• Quadratic formula and factoring of general quadratic polynomials

• Using the quadratic formula to solve equations

Functions

• Linear functions

• Quadratic functions – word problems involving quadratic functions

• Graphs of quadratic functions and completing the square

• Polynomial functions (including graphs of basic functions)

• Simple nonlinear functions (e.g., square and cube root functions; absolute value; rational functions; step functions)

• Rational exponents, radical expressions, and exponential functions

• Logarithmic functions

• Trigonometric functions

• Fitting simple mathematical models to data

Algebra of Polynomials

• Roots and factorization of polynomials

• Complex numbers and operations

• Fundamental theorem of algebra

• Binomial coefficients (and Pascal’s Triangle)

• Mathematical induction and the binomial theorem

Combinatorics and Finite Probability

• Combinations and permutations, as applications of the binomial theorem and Pascal’s Triangle

The doc itself is much more specific, as you'd guess. The tables and figures are quite insightful.

APPENDIX A: Comparison of the Major Algebra Topics in Five Sets of Algebra I and Algebra II Textbooks with the List of Major Topics of School Algebra

APPENDIX B: Errors in Algebra Textbooks

List of Figures

Figure 1: Percent of Students At or Above Proficient in Mathematics Achievement on the Main NAEP Test: 1990, 2003, and 2007

Figure 2: States with Standards for Algebra I and II Courses

Figure 3: Topics in a 1913 High School Algebra Textbook

Figure 4: Singapore 2007 Algebra Standards for Grades 7-10

Figure 5: Algebra Objectives for NAEP’s Grade 12 Mathematics Assessment

Figure 6: Topics to Be Assessed in the ADP Algebra II End-of-Course Test

Figure 7: Mathematics Topics Intended from Grade 1 to Grade 8 by a Majority of TIMSS 1995 Top-Achieving Countries

Figure 8: Mathematics Topics Intended from Grade 1 to Grade 8 in the 2006 NCTM Focal Points Compared with the Topics Intended by a Majority of TIMSS 1995 Top-Achieving Countries

List of Tables

Table 1: Frequency Counts for Broad Topics in 22 States’ Standards for Algebra I and II Courses

Table 2: Algebra Elements Covered by State Algebra or Integrated Mathematics Frameworks, by State and Two-Thirds Composite

Table 3: Comparison of the Major Topics of School Algebra with Singapore’s Secondary Curriculum

Table 4: Comparison of the Major Topics of School Algebra with the 2005 NAEP Grade 12 Algebra Topics

Table 5: Comparison of the Major Topics of School Algebra with ADP’s High School Algebra Benchmarks, Core Topics in its Algebra II Test, and the Topics in the Optional Modules for its Algebra II Test

Table 6: K-8 Grade Level Expectations in the Six Highest-Rated State Curriculum Frameworks in Mathematics Compared with the Topics Intended by a Majority of TIMSS 1995 Top-Achieving Countries