The Academy Awards®, affectionately known as the Oscars®, are the oldest, best known, most influential, most prestigious, and famous of film awards.

The awards (and gold-plated statuettes) have been presented annually (the first awards ceremony was held in May of 1929) by a non-profit professional organization - the Academy of Motion Picture Arts and Sciences (AMPAS), based in Beverly Hills, California, and founded in 1927.

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.

Except for the early years of the institution, the awards honored films made during the previous 12-month calendar year. [At first, to be eligible for an award, a film had to open in Los Angeles during the twelve months ending on July 31 of the preceding year.

To allow each ceremony to cover films for a single calendar year - matching the eligibility period, the 1932/33 awards were based on a 17-month qualifying period. Ever since then, beginning with the 1934 awards ceremony, all awards have been based on openings in the previous calendar year. Films also had to be over 40 minutes long to qualify as feature-length.] Until 1954, the Oscars were presented mostly on a Thursday evening. From 1955 to 1958, they were presented on a Wednesday.

From 1959 until 1998 the Oscars were, with a few exceptions, presented on a Monday night. Only since 1999 has the Awards ceremony taken place on a Sunday (traditionally in March). In 2004, the ceremony was moved even earlier to improve ratings and to be more relevant to the awards 'season'.