The conditioning process is a function of the yeast. The vigorous, primary stage is over, the majority of the wort sugars have been converted to alcohol, and a lot of the yeast are going dormant; but there is still yeast activity. During the earlier phases, many different compounds were produced by the yeast in addition to ethanol and CO2, e.g., acetaldehyde, esters, amino acids, ketones- diacetyl, pentanedione, dimethyl sulfide, etc. Once the easy food is gone, the yeast start re-processing these by-products. Diacetyl and pentanedione are two ketones that have buttery and honey-like flavors. These compounds are considered flaws when present in large amounts and can cause flavor stability problems during storage. Acetaldehyde is an aldehyde that has a pronounced green apple smell and taste. It is an intermediate compound in the production of ethanol. The yeast reduce these compounds during the later stages of fermentation.
The yeast also produce an array of fusel alcohols during primary fermentation in addition to ethanol. Fusels are higher molecular weight alcohols that often give harsh solvent-like tastes to beer. During secondary fermentation, the yeast convert these alcohols to more pleasant tasting fruity esters. Warmer temperatures encourage ester production.