The mother of all award ceremonies is upon us—The Academy Awards are coming up on Sunday, February 26! Add the date to your Cozi calendar..

The Oscars gather the hottest stars in Hollywood while those of us at home tune in to watch the red carpet arrivals (That dress! The hair! What was she thinking?) and see which actors will take home the little gold man.

There’s no better time for a theme party. Whether you bring together friends for the ultimate mom’s night out Oscar party or gather your movie-loving family to dish over the red carpet, fill your night with food, fun, and maybe even a little wager as you take in the show.

Here's how to celebrate in style:

Dress up: Encourage your guests to don their finest attire to give the evening an elegant feel.

Decorations: Grab some butcher paper or a large cardboard box, a pencil, and gold paint to create your own giant Oscar to hang on your front door or adorn a wall inside. Roll out a red carpet (felt or fabric will work, too) for your guests to stroll down as they arrive. Choose a color theme and buy balloons, napkins, plates, and streamers to give a festive feel to the event.

Food: Make sure to have plenty of food on hand to feed party goers, whether you serve pizza, host a potluck, or go the extra mile with a buffet. Offer an assortment of finger foods and treats to munch on throughout the evening. Having concession stand-style candies and popcorn is a nice touch, especially with popcorn boxes or bags for the guests to make their own assortment. If you really want to impress, make these so-cute Oscar cookies.

Music: Create a mix of music based on the various soundtracks of Oscar-nominated films, past and present, to play when guests arrive.

Drinks: Champagne is a must, as is sparkling cider. For Oscar-themed drinks, check out That’s The Spirit (the cucumber dew martini sounds delightful!).

Games: Keep the night interesting with a betting pool. Have guests chip in $1 to $10 when they arrive, have ballots handy for guests to pick winners, collect the ballots prior to the first award being given, and at the end of the evening determine who gets cash (most wins, most losses). You can also download Bingo cards to play throughout the evening, giving simple prizes like candy or DVDs to the winners.

Seating: Chances are you'll have both guests who are interested in chatting it up and socializing during the broadcast and guests who would like to watch the Oscars without interruption. If possible, cater to both groups by having separate viewing areas for guests to choose from.

Swag bags: Hand out your own swag bags to guests to cap off the evening. It doesn’t have to include a Rolex or the keys to a new car, but small items like fashion magazines, beauty products, microwave popcorn, and candy will make it a night to remember and your friends will leave feeling like VIPs.

Oscar Party Starter Shopping List