The ACADEMY Award, commonly known as the OSCAR, is an award presented annually by the ACADEMY of Motion Picture Arts and Sciences (AMPAS) to recognize excellence in cinematic achievements. The award is given in various categories, such as Best Picture, Best Actor, and Best Actress. The name 'OSCAR' is derived from the statuette that is presented to the winners. The ACADEMY Award is one of the most prestigious awards in the film industry and is considered to be the highest form of recognition for filmmakers.