  We present observations of the first two supernovae discovered with the
recently installed Advanced Camera for Surveys (ACS) on the Hubble Space
Telescope. The supernovae were found in Wide Field Camera images of the Hubble
Deep Field North taken with the F775W, F850LP, and G800L optical elements as
part of the ACS guaranteed time observation program. Spectra extracted from the
ACS G800L grism exposures confirm that the objects are Type Ia supernovae (SNe
Ia) at redshifts z=0.47 and z=0.95. Follow-up HST observations have been
conducted with ACS in F775W and F850LP and with NICMOS in the near-infrared
F110W bandpass, yielding a total of 9 flux measurements in the 3 bandpasses
over a period of 50 days in the observed frame. We discuss many of the
important issues in doing accurate photometry with the ACS. We analyze the
multi-band light curves using two different fitting methods to calibrate the
supernovae luminosities and place them on the SNe Ia Hubble diagram. The
resulting distances are consistent with the redshift-distance relation of the
accelerating universe model, although evolving intergalactic grey dust remains
as a less likely possibility. The relative ease with which these SNe Ia were
found, confirmed, and monitored demonstrates the potential ACS holds for
revolutionizing the field of high-redshift SNe Ia, and therefore of testing the
accelerating universe cosmology and constraining the "epoch of deceleration".
