Recording a Change in Accounting Estimate start of the current year, before making any adjusting entry to recoed depreciasion expense for that year, the compary decided that the machine should be depredated over a is year tocal usefal iffe. 2. Prepare the adjusting entry at December 31 of the curnent year for annual depreciation expense. Recording a Change in Accounting Estimate start of the current year, before making any adjusting entry to recoed depreciasion expense for that year, the compary decided that the machine should be depredated over a is year tocal usefal iffe. 2. Prepare the adjusting entry at December 31 of the curnent year for annual depreciation expense