It is basically divided into two parts... Verification and
Validation
This model is important in Testing because it has seperate
testing part for each and every phase.
V Model is having following stages:
>> Requirements Analysis
	In this phase, we get the requirements from client, analyze
them and freeze the feasible requirements.

>> System Design
	In this phase, we design the entire system means DB Design,
Data Dictionaries, Forms, screens etc.

>> Architecture Design
	In this phase, the architecture of the system is done. the
architecture means weather its a web based application,
Desktop Application, Client Server Architecture etc. It is
also known as High Level Design.
>> Module Design
	Here, individual modules are designed. It is also called
Low Level Designing.
>> Coding
	In this phase, actual coding will take place. Programmers
will do the actual programming of the application.
>> Module Testing
	In this Phase, programmers will test the module which they
have developed by their self. Here, no QA/QC are involved.
>> Integration Testing
	Here, the integration testing is done to make sure that
after integrating various modules of the system the system
as a whole is working fine and the referential integrity is
maintained or not. 
>> System Testing
	Here entire system is tested by different types like
performance, stress, usability, installation/uninstallation,
backup/recovery etc,.
>> User Acceptance Testing
	This is generally done by users of the system. They verify
weather their requirements are met by the system or not.