Combining IF Statements with AND OR

[MKuehner]

Please see the attached file. I am trying to write a formula that would require a variance explanation if the following criteria are met:
1. If the variance between the 2012 budget and the 2013 budget exceeds $10,000 (+/-) AND 10%, require an explanation (required "Y", not required "N").
2. Not subject to the above threshold, if the 2012 forecast is greater than $1,000 but nothing is budgeted for 2013 or the 2013 budget is greater than $1,000 but nothing is forecasted for 2012, require an explanation (required "Y", not required "N").

I've got some rough formulas on the attachment. However, I'm having a tough time combining the formulas to achieve the above results. Any help would be greatly appreciated!

[carsto]

In E8 enter
=IF(AND(D8>1000,C8=0),"Y", IF(AND(C8>1000,D8=0),"Y", IF(OR(1-(B8/D8)>=0.1,1-(D8/B8)>=0.1),"Y", IF(OR(D8-B8>=10000,B13-D8>=10000),"Y", "N"))))


this is a Nested IF. The max is 7 IF(s).

you check the first and if yes, "Y", then instead of "N" check the second IF and so on.