Yes rstd. This means you have crossed the first step and all the documents are in proper and in place. Now, CIC starts looking into all the information we have given in detail like the back ground check, Validating the employment details, Validating your duties and occupation, etc. for everything what you have filled out on the application forms. While these things are in process, we will receive an AOR(Acknowledement of receipt) number.
What I see from previous applicants is that, it is taking about 1.5 months of time to receive the AOR after CIC charing the application.
Good luck with your application!!