IF ITEM(Status1) = Status1.Test AND 'ModuleName1'.ColumnName1=Status2.Test2 THEN
'ModuleName1'.Value[SUM: 'ModuleName1'.Type] ELSE 0
Can someone help me with the above formula, Is to ok to use an AND operation for the above calcualtion.
Without knowing anything else about what you are doing, the formula looks fine. Using AND is common. if you need a second (stand-alone) condition, then use ELSE IF...
Note that the sum statement (SUM: 'ModuleName1'.Type) implies that the value you are summing by (i.e. Type) is a dimension of the result (which means that Type is a dimension of the Line Item* the formula is in).
*Note: Demension of the result technically refers to the dimensions of line item that the formula is in. In most cases, this will be the dimensions of the module as a whole, but the dimensions could be unique to the line item itself if the line item is a subsidiary view... that is, if the line item has different lists/dimensions than the related module).