APAP is not tylenol (aka) acetaminophen . It is an acetanelid derivative made in the late 1800's. It was not used for years because it caused very troubled breathing and heart attacks.
APAP today is acetaminophen, when someone writes APAP in context today it is always acetaminophen. Nobody talks about an obscure chemical nobody has cared about since the late 1800's.
APAP nowadays refers to paracetamol, AKA acetaminophen, not sure about what it meant in 1800s. its derived from the chemical name N-Acetyl-P-AminoPhenol
Phenacetin, which is what you're likely thinking of, is no longer used because it's just a toxic prodrug for acetaminophen anyway. It seems to persist as a cocaine cutting/bulking agent though.
As said above though, in this day and age if it refers to APAP it is referring to acetaminophen. Not sure why you posted this but it definately not referring to the old drug (unless it states otherwise). I have been a nurse for 20 years and trust me, the whole medical field is not wrong!