A report frame is a word processor with more capabilities. Most importantly, it can have calculations, which are covered in Calculations.
Most of the basic editing features of a word processor are here, like different fonts, bold, underlined, italic, strikethrough text, and more. Change these text properties by using the toolbar or the properties window.
You can also reference values from other report frames or spreadsheets in your calculations.
You can also use the copy reference tool.