Changes will affect only the user who is changing the date or time format:
Start->Settings->Control panel->Regional and Language Options-> under "Regional Options" click on "Customize" Button in the menu which popped up after clicking "Customize" button change the fields which you want to change.
Note: Changes will affect only to the user account who is changing the settings.
As we are in Terminal server environment/administrator, of course above is not our need. We need to do the changes which should affect all the users who use that server. In that case. please see below:
Start->Settings->Control panel->Regional and Language Options-> under "Regional Options" click on "Customize" Button in the menu which popped up after clicking "Customize" button change the fields which you want to change. and click Apply and close the window.
than the important one, Go to the "Advanced" tab under the "Regional and Language Options" check the option "apply all settings to the current user account and to the default user profile". Which saves the changes to the default user profile, so whenever you have a new user logged in then you have the changes.
now the question is what need to be done for the users who already started using the system. that means who's profile is already been created. Well, as a admin, its your call, you want the create the new profile for them? or anything which comes to your mind and which suits your environment or which is under your company's process.
I know this can also be achieved by using simple .reg key import while logging in. This situation suits for the server hosting multiple applications and only one application or one set of users need the changes.