All fungi pass through two phases or stages in their life cycle. These phases are vegetative or assimilative phase and reproductive phase.
Vegetative phase It this phase they go speedily in the good giving substratum. The food substratum may be bread, cheese, wood, etc. Coprophilous fungi grow weU on cow dung, dead parts of plants like fallen leaves.
Reproductive phase In this phase, erect hyphae develop which produce reproductive structure. In unicellular yeasts, the entire cell become a reproductive structure. This is the holocarpic condition. In other fungi, reproductive structures develop from a part of the vegetative body and the condition is called eucarpic.