This document discusses the accounting treatment for Perisher Ltd's investment in Zalis Ltd under AASB 128 and AASB 139. Perisher had significant influence over Zalis and accounted for it as an associate under AASB 128. In 2010, Perisher lost significant influence when it sold part of its interest. It now classifies the retained interest in Zalis as an available-for-sale financial asset under AASB 9, recognizing a $20,000 gain on sale and increasing the investment to its fair value of $180,500.