The following steps we follow in the bug life cycle.

1)execute the test, compare the actual result with the

documented expected result.if any discepancy exist, log the

discrepancy with the status as NEW.

2)tester/testleader(depends upon the company) OPEN that

one and review with the developer about discrepancy.

3)if it truly a discrepancy developer rectify that one and

update its status to FIXED.

4)it is routed back to the tester for regression testing

5)tester retest that one and compare the actual result with

the expected result.both are same he close the defect and

update its status to CLOSED.

6)if it is not corrected tester assign it to the developer

and update its status to RE-OPEN.