“The Academy Award (also known as the Oscar) is an accolade bestowed by the American Academy of Motion Picture Arts and Sciences (AMPAS)to recognize excellence of professionals in the film industry, including directors, actors, and writers. The formal ceremony at which the awards are presented is one of the most prominent award ceremonies in the world and is televised live in more than 200 countries annually.

It is also the oldest award ceremony in the media; its equivalents, the Grammy Awards (for music), Emmy Awards (for television), and Tony Awards (for theatre) are modeled after the Academy. The Academy of Motion Picture Arts and Sciences itself was conceived by Metro-Goldwyn-Mayer studio boss Louis B. Mayer.

Pricewaterhouse (now PricewaterhouseCoopers) has managed the Academy Awards balloting process since 1935 - all but the first six years of the Oscars. Ever since 1941, when their now-famous confidential envelope system was introduced, marking the first year of complete secrecy, “the Envelope Please” has become a familiar phrase that evokes the thought of the Academy Awards® ceremony.

The first Academy Awards ceremony was held on May 16, 1929, at the Hotel Roosevelt in Hollywood to honor outstanding film achievements of the 1927/1928 film season. Opting for a younger face for the 83rd Academy Awards scheduled for February 27, 2011, younger actors Anne Hathaway and James Franco were named as hosts in November 2010.”

This year the 83rd Academy Awards will be held in the Kodak theatre in Hollywood, California. The Oscars will be given to people and films deserving the titles of: Best Actress/Actor, Best Picture, Best Director, Best Supporting Actor/Actress, and Best Screenplay/Writer.