Production & Revenue Accounting is a sub module in IS Oil. This module has been primarily created to cater to the US oil industries and is used in only Upstream Industry in Oil. The module essentially talks about Allocation of Production volumes to various Wells spread across various fields , Definition of Contractual allocations , Sharing of Revenues among various Contractual partners , Royalty reporting etc., It is not a sub module of FICO. Its a part of Logistics stream.
Hello Mr. Veera
Please find below the link where you can find more useful information about the PRA/JVA.
Hope this will be useful. to understand basics about this.
Thanks and Regards
As Venkat has told its a part of IS-OIL.
PRA is used in US mainly but is also used in other countries. This is more related to how crude oil or natural gas produced is allocated to different owners who have their interest in this.
FICO has only one integration with PRA the Journal Entry(JE). JE as such is book keeping module which holds the financial details of each transaction concerned with revenue.
in case you need more information have look at