In the field of software testing, the terminologies such as issue, defect and bug are used interchangeably. However, Issue can be defined as the unit of work to accomplish an improvement in a system. It could be a bug, a change request, task, missing documentation, etc. It is usually raised by specifying the severity (high, medium, low or cosmetic).
Following is the workflow of Bug Life Cycle:
The Following details should be part of a Bug:
Date of issue, author, approvals and status.
Severity and priority of the incident.
The associated test case that revealed the problem.
Expected and actual results.
Identification of the test item and environment.
Description of the incident with steps to Reproduce.
Status of the incident.
Conclusions, recommendations and approvals.