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In Elements 9 the Raw Camera Converter was added. In PSE 12 it is accessible from the Menu bar.
This is a remarkably useful tool. You can use it to process an image to completion before opening it in
Photoshop Elements.
All you need to do in Elements is to re-size put a border you wish and maybe use the Filters as you desire.
For normal standard photos there is hardly anything you need to do extra.
There are videos and tutorials available on line.
The instructor here is very clear and concise for videos 1 & 2.
1. For Photoshop Elements 12: Camera Raw + jpg photo editing - YouTube
https://www.youtube.com/watch?v=5lZ2HR1xhWg
2. For PSE11 see Photoshop Elements 11 - Camera Raw interface - YouTube
3. If you prefer an English voice try
How to Work With RAW Format Photographic Images in Photoshop Elements - YouTube
https://www.youtube.com/watch?v=ShsLOm7QECU
This uses a slightly older version of the Raw Converter. He has a dreary Yorkshire voice sadly.
4. Another video - from Adobe who should know how to use this tool.
Learn Adobe Photoshop Elements 11 - Part 3: Camera Raw (Training Tutorial) - YouTube
https://www.youtube.com/watch?v=ysgDo5Oc8yU
5. https://www.youtube.com/watch?v=wAHiGv8wLjo. Bear in mind the image used was taken with a
large DSLR camera in 16 bits [see at the bottom of the screen]. Most cameras use 8 bits. Also when he
shows Sharpening he should have done it at 100% and not some arbitrary amount. For Noise reduction you
also need to enlarge to 100%. The Luminance controls are the most useful. Colour control is used for noise
that you can see as multi-coloured patches.
http://www.dummies.com/how-to/content/using-the-camera-raw-converter-in-photoshop-elemen.html
Adobe has the following:-
Photoshop Elements Help | Processing camera raw image files