Apple Limited reviews its depreciation policies annually. At the most recent review for the year ended 31 December 2017, the directors decided that the remaining useful economic life of machinery at 1 January 2017 was three years. Additional information in relation to machinery is as follows:

Requirement Explain how to account for this change in the useful economic life of machinery in the financial statements of Apple Limited for the year ended 31 December 2017.

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Machinery-cost at date of acquisition on 1 January 2014 Estimated useful economic life at 1 January 2014 Estimated residual value at 1 January 2014 3,600,000 10 Years nil