There is no standardised definition of bulking and cutting. Bulking involves eating more calories than you need, in order to put on weight, then building muscle via resistance training. Cutting involves eating fewer calories than you burn (and probably doing more cardio) in order to lose the fat.
How long should you bulk before cutting?
If you are at a satisfactory lean starting body composition start with a bulk for 12 weeks, then rest for four to eight weeks, followed by a six to 12 week cut - depending on how much fat you gained.
Can we do bulking and cutting together?
According to studies at McMaster University, gorging and cutting can indeed happen together. And you can spare yourself the digestive flagellation, too. It turns out that shifting your body composition is as simple as upping your protein and reducing carbs.