The importance of the trustworthiness or credibility of simulation results increases accordingly to the importance of modeling and simulation for decision support. Faulty or non-appropriate simulation models may have fatal impact on decision making, including wrong investments, faulty products, decrease in efficiency, or even human injury or death. Verification, validation and accreditation (VV&A) is performed to reduce the risk incident to the use of simulation models. This report gives an overview over the basics of VV&A, and then focuses on a detailed and structured approach on V&V planing and execution, including a short discussion of several formal and informal, static and dynamic V&V techniques. After the presentation of a VV&A framework, in the end special requirements and chances for the V&V of High Level Architecture (HLA) federations are summarized. Most contents of this report were researched during the ITIS study "Future Perspectives of Modeling and Simulation".