The CFO of Ajax Co. wants to change the estimated useful life of a building Ajax owns. His auditor responds that this change O O is not allowed by generally accepted accounting principles must be handled as a retroactive adjustment to all accounts affected, back to the year of the acquisition of the building creates a new account to be recognized on the income statement reflecting the difference in net income up to the beginning of the year of the change. affects the depreciation on the building beginning with the year of the change