shorten code vba

i've found that you could shorten your code.


example:

if Worksheets("Sheet1").Range("A1") = 2 then
     Worksheets("Sheet1").Range("B1") = "well done"
     Worksheets("Sheet1").Range("B2") = "Passed"
     end if

to this:

if Worksheets("Sheet1").Range("A1") = 2 then Worksheets("Sheet1").Range("B1") = "well done": Worksheets("Sheet1").Range("B2") = "Passed"

Could someone give me a brief on this subject?
why/where to use and why/where not to use this

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