Time spent on tasks can be reported through Progress Reports (read more about Progress Reports):
You can also use the Time Tracker desktop widget to report time.
You can also define the Estimated Time for each task (make sure you click "more options" in Task Creating/Editing window to access it):
You can display the Estimated Time and even measure it against the actual time spent (reported through Progress Notes) in the left panel, by adding the "Hours" column to it (using right click on column headers).
You can aggregate the time spent on tasks with Time Report:
You can export the report data into CSV/Excel (and then import into other software) and print it out.