Without the specific model number it's difficult to tell. You can try looking for the user manual here: http://us.acer.com/ac/en/US/content/drivers
Videos on how to do a factory restore on an Acer Aspire One: http://www.youtube.com/watch?v=I4Bl1SDzmRwhttp://www.youtube.com/watch?v=a-s8ak5ST44
Since you have already tried the ALT+F10 method those may not help. The beep(s) could be a BIOS code indicating some type of hardware problem such as RAM or the hard drive.