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To provide a foundation for conceptual modeling, ontologies have been introduced to specify the entities, the existences of which are acknowledged in the model. Ontologies are essential components as mechanisms to model a portion of reality in software engineering. In this context, a model refers to a description of objects and processes that populate a system. Developing such a description constrains and directs the design, development, and use of the corresponding system, thus avoiding such difficulties as conflicts and lack of a common understanding. In this cross-area research between modeling and ontology, there has been a growing interest in the development and use of domain ontologies (e.g., Resource Description Framework, Ontology Web Language). This paper contributes to the establishment of a broad ontological foundation for conceptual modeling in a specific domain through proposing a workable ontology (abbreviated as TM). A TM is a one-category ontology called a thimac (things/machines) that is used to elaborate the design and analysis of ontological presumptions. The focus of the study is on such notions as change, event, and time. Several current ontological difficulties are reviewed and remodeled in the TM. TM modeling is also contrasted with time representation in SysML. The results demonstrate that a TM is a useful tool for addressing these ontological problems.