I was thinking about signing up for my Associates in Accounting with Penn Foster Online colleg, Is it a good school and will employers consider online college graduates?

Assuming the info on their web site is true, they appear to be reconsied by the US Dept of Education, and are accredited.

As with many degrees, an Associates is not near as good as a BS or BA, bu better than a high school degree. And some companies will not hold an online degree as well as a brick and mortar one, but many will reconise them just as well as long as they are properly accredited.

This is going to be somewhat location-dependent. That an Associates is "not near as good" as a Bachelors is just a blanket statement that doesn't count for all degrees and all areas. I "only" have an Associates and around this area this is perfectly acceptable to the accounting firms. The level of the classes is just as high as some of the 4-year schools, with maybe only 1-2 classes "missing." The degree I have just doesn't have as many GE's (though I have those from another degree), and there's not a bunch of extra electives (though I have a bunch of those too). It concentrates on accounting and gets to an advanced level of stuff that's just about never even used. I could quite easily get in at a CPA's if I wanted. (I've done mostly private work.)

To a larger private company this would probably not be as acceptable. In another locale it also might not be as acceptable. But experience is also worth something no matter where you are. But this is also going to depend on what your goals are and what you're planning on doing, and if you're trying to go for a CPA, that's state rules.

If you're planning on staying in the area, you might want to check around there and see if that seems acceptable or not.