83rd Academy AwardsThe 83rd Academy Awards will be presented on Sunday February 27, 2011, which means we only have 20 more days to speculate about who will go home with an Oscar, guess who will show up with whom and daydream about the high fashion and wardrobe mishaps always appearing on the red carpet. And now that the Super Bowl is behind us, is anyone planning to host an Oscar party? Are you the designated host because you are the one with a TV lift cabinet?

The Academy Awards have a long-standing reputation of honoring the “best of the best” in the movie industry in 24 different categories. The ceremony will air on ABC and both James Franco and Anne Hathaway will host the show, which is a first for both actors.

Nominations for the 83rd Academy Awards were released on January 25, 2011, and if you want to know who’s in and who’s out, here’s a rundown of the major categories and their nominees:

Best Picture

127 Hours

Black Swan

The Fighter

Inception

The Kids Are All Right

The King's Speech

The Social Network

Toy Story 3

True Grit

Winter's Bone

Best Director

Darren Aronofsky – Black Swan

Ethan Coen and Joel Coen – True Grit

David Fincher – The Social Network

Tom Hooper – The King's Speech

David O. Russell – The Fighter

Best Actor

Javier Bardem – Biutiful

Jeff Bridges – True Grit

Jesse Eisenberg – The Social Network

Colin Firth – The King's Speech

James Franco – 127 Hours

Best Actress

Annette Bening – The Kids Are All Right

Nicole Kidman – Rabbit Hole

Jennifer Lawrence – Winter's Bone

Natalie Portman – Black Swan

Michelle Williams – Blue Valentine

Best Supporting Actor

Christian Bale – The Fighter

John Hawkes – Winter's Bone

Jeremy Renner – The Town

Mark Ruffalo – The Kids Are All Right

Geoffrey Rush – The King's Speech

Best Supporting Actress

Amy Adams – The Fighter

Helena Bonham Carter – The King's Speech

Melissa Leo – The Fighter

Hailee Steinfeld – True Grit

Jacki Weaver – Animal Kingdom

Topping the list with the most number of nominations is The King’s Speech, receiving 12, but it is followed by True Grit, which received 10 nominations. Both Inception and The Social Network received eight nominations each.

How many of the “Best Picture” film nominees have you seen? Is there a film, director, actor or actress you feel may have been left out of this year’s list?