The governing equations and lateral transport modelings of subchannel analysis code, which is the most widely used tool for the analysis of thermal hydraulics fields in reactor cores, have been thoroughly investigated in this study. The procedure for the derivation of subchannel integral balance equations from the local instantaneous phase equations was investigated by stages. The characteristics of governing equations according to the treatment of phase velocity were studies, and the equations based on the drift-flux equilibrium formulation have been derived. Turbulent mixing and void drift modeling, which affect considerably to the accuracy of subchannel analysis code, have been reviewed. In addition, some representative modelings of single-phase and two-phase turbulent mixing models have been introduced. (author). 5 tabs., 4 figs., 16 refs.