The rapid, repeated, precise creation and deposition of droplets, printing or patterning of small features (say l = 10-3-1 mm), and the formation of thin films with controlled, uniform thickness by spraying, are of great importance to a variety of old and new industrial applications (1-5). The liquid transfer and drop formation/deposition processes involve complex free-surface flows and formation of columnar necks that undergo spontaneous capillary-driven instability, thinning and pinch-off (1-5). Despite the progress made using experimental, theoretical and one-dimensional simulation studies for analyzing drop formation and liquid transfer for simple Newtonian and inelastic fluids, mechanistic understanding of printing and spraying remains a challenge. The primary motivation for the present computation effort is to examine the possibility of using the volume-of-fluid (VOF) approach embedded in the FLOW-3D to obtain mechanistic understanding of pinch-off dynamics of Newtonian fluids. We show that our computational analysis captures the complex interplay of capillary, inertial and viscous stresses that determines the self-similar capillary thinning and pinch-off dynamics. For the drop formation and detachment of Newtonian fluids, we show that the self-similar neck evolution obtained from the computational analysis can be described using the universal scaling laws expected from theory and 1D simulations (1-7) as well as experiments (1, 2, 8-12). Our success in simulating such prototypical flows is a necessary step towards using FLOW-3D for careful computational analysis of the nonlinear dynamics underlying finite-time singularity, satellite drop formation as well as printability in more complex geometries, that are significantly harder to describe or study using 1D models and experiments.