BuddyPress.org

BuddyPress doesn’t integrate the full version of bbPress you are expecting. Instead, it just uses a very restricted version integrated into BuddyPress groups.

Basic forum admin functions are available from within the group admin.

If you want full featured forums with BuddyPress, you’ll have to integrate a standalone forum solution. bbPress and simple:press are candidates – I opened a thread about this recently. Search bbPress vs simple:press