Reporting means that the immigration officer believes that you do not meet the RO and they decide to report you for it. This is the first step to revoking your PR. If it happens, you will be given some paperwork by the immigration officer and you will be told that if you wish to keep your PR, you have 30 days to write an appeal, either proving that they were wrong and that you do meet the RO or appealing to them that you had humane and compassionate grounds for not being able to meet the RO. If you don't appeal, you lose your PR. If you appeal, you can stay in Canada while they process it which I have heard takes around 12-18 months. If you lose your appeal, you lose your PR and will be asked to leave. Time spent in Canada after being reported does not count towards the RO unless you win your appeal.