Chapter 9: Purchased financial assets with credit deterioration. Publication date: 31 May 2022.ASC 326's changes the accounting for credit losses. Let's take a look at the impact on purchased financial assets with credit deterioration. Acquired financial assets that, at acquisition, have experienced morethaninsignificant deterioration in credit quality since origination. SCOPE: The County of San Bernardino's Investment Policy has been prepared in accordance with. California State law. From 2017 through 2022, San Bernardino County saw an increase of 48,145 residents compared with a statewide decline of 166,793 residents. Forvis Mazars summarizes recent FASB decisions on its purchased financial assets project, addressing negative comment letter feedback.