When you activate the plugin, you will see the BuddyPress Moderation menu like below.

There are four menus

• Queue :- It hold the items currently reported which needs your action.
• History:- If enabled, the history of the actions taken on moderation reports as well as the moderation reports.
• Category:- Allows creating one or more category for organizing the moderation reports.
• Settings:- Various settings for the moderation plugin. It contains one panel per reportable type.

Next:- Settings Panel.