the coefficient i,j of $A^2$ gives the number of paths of length $2$ from i to j.
generalization :
the coefficient i,j of $A^k$ gives the number of paths of length $k$ from i to j.
Proof by recurrence : It is obviously true for $k=1$ by definition of the adjacency matrix.
Suppose it is true for $k\geq 1$. Then a path of length $k+1$ from $i$ to $j$ is a path from $i$ to a vertex $l$ (of witch there are $A^k_{i,l}$) that is connected to $j$ (given by $A_{l,j}$). Therefore the number of paths from $i$ to $j$ whose last stop is $l$ is $A^k_{i,l}A_{l,j}$.
Summing those for all values of $l$ gives the total number of paths from $i$ to $j$ of length $k+1$, and matches exactly $(A^k A)_{i,j}=A^{k+1}_{i,j}$.
It is therefore true for $k+1$, therefore it works for all values of $k$.