Q: Excel IF statement #NAME? error too many statements This is the statement I am working on to calculate values based on two criteria and 'if' statements. 
I have tried to use nested 'if' statements but they will not let you use two criteria for each statement.
Is there another way to get around this? 
=IF(AND(S2 = Yes, N2>5%), 5%*L2, N2*L2, 
IF(AND(S2 = No, N2>5%),((U2/T2)*5%)*L2,  ((U2/T2)*N2)*L2))
With everyone's help I was able to adjust the formula to: =IF(AND(S2="Yes",N2>5%),5%*L2,IF(AND(S2="No",N2>5%),((U2/T2)*5%)*L2,IF(AND(S2="No",N2<5%),((U2/T2)*N2)*L2,N2*L2)))
Added one additional IF statement to get the last criteria I needed. 

A: Taking out the N2*L2, and adding Jeeped suggestion:
=IF(AND(S2 = Yes, N2>5%), 5%*L2, N2*L2,
=IF(AND(S2 = No, N2>5%),((U2/T2)*5%)*L2,  ((U2/T2)*N2)*L2))
=IF(AND(S2 = "Yes", N2>5%), 5%*L2,  IF(AND(S2 = "No", N2>5%),((U2/T2)*5%)*L2, ((U2/T2)*N2)*L2))

Again, you need to clarify your requirement.

A: If Statment Layout
if(A+B=C,True,False)  this is a basic if statment.
if(A+B=C,True,if(G+H=X,True,False))  this is a nested if statment.
replacing the first False with the next if statment but remember to add an end bracket for each nested if statment at the end of your final one.
an example of one I used before below, it can get a bit confusing with so many nested statements , but I can assure you this formula works in my sheet.
=IF(B9=0,IF(OR(C9=0,D9=0),0,IF(AND((C9*D9)<1,(C9*D9)>0.001),MROUND(((C9*D9)*1000),0.001)&" mV",IF((C9*D9)<0.001,MROUND(((C9*D9)*1000000),0.001)&" uV",MROUND((C9*D9),0.001)&" Volts"))),(IF(C9=0,IF(OR(B9=0,D9=0),0,IF(AND((B9/D9)<1,(B9/D9)>0.001),MROUND(((B9/D9)*1000),0.001)&" mA",IF((B9/D9)<0.001,MROUND(((B9/D9)*1000000),0.001)&" uA",MROUND((B9/D9),0.001)&" Amps"))),IF(D9=0,IF(OR(B9=0,C9=0),0,IF(AND((B9/C9)<1,(B9/C9)>0.001),MROUND(((B9/C9)*1000),0.001)&" mΩ",IF((B9/C9)<0.001,MROUND(((B9/C9)*1000000),0.001)&" uΩ",MROUND((B9/C9),0.001)&" Ohms"))),"Leave Desired Quantity Empty"))))
the above formula is used to calculate Ohms Law from 2 out of 3 value cells, it also rounnds the figures to the appropriate value size , ie adding Ohms, Mega or Giga to the value  (93 ohms) or (93 Mega) or as the answer required Volts Or Amps
