[en] A set of multiphase field equations--conversion of mass, momentum and energy--based on multiphase mechanics is developed. Multiphase mechanics applies to mixtures of phases which are separated by interfaces and are mutually exclusive. Based on the multiphase mechanics formulation, additional terms appear in the field equations when the physical size of the dispersed phase (bubble or droplet) is many times larger than the inter-molecular spacing. These terms are the inertial coupling due to virtual mass and the additional viscous coupling due to unsteadiness of the flow field. The multiphase formulation given here takes into account the discreteness of particles of dispersed phases and, at the same time, the necessity of the distributive representation of field variables via space-time averaging when handling a large number of particles. The provision for multidomain transition further permits us to treat dispersed phases which are large compared to the characteristic dimension of the flow system via interdomain relations. The multidomain multiphase approach provides a framework for us to model the various flow regimes. Because some of the transport parameters associated with the system equations are not well known at the present time, an idealized two-domain two-phase solution approach is proposed as a first step. Finally, comparisons are made between the field equations formulated based on the multidomain-multiphase fluid mechanics and the pertinent existing models, and their relative significances are discussed. The desirability of consistent approximation and simplifications possible for dilute suspensions are discussed