Chapter 9: Purchased financial assets with credit deterioration. Publication date: 31 May 2022.The initial amortized cost basis for the purchased financial assets with credit deterioration is the new. "purchase price" plus any determined ACL. An impairment is a significant and unexpected decline in the service utility of a capital asset. ASC 326's changes the accounting for credit losses. Let's take a look at the impact on purchased financial assets with credit deterioration. Read an overview of CECL and observations to consider during implementation of the model, effective for fiscal years beginning after Dec.