The holiday parties and New Year's celebrations flew by. Suddenly, we're thrust into the glorious Hollywood parade of awards season, with the 77th annual Golden Globe Awards (NBC, 8 p.m. ET/5 PT) stepping up as the first star-studded event Sunday night.

Not prepared? No problem. We have the guide for what to look for as Ricky Gervais kicks off the festivities – his fifth Golden Globes hosting gig – and the most glamorous stars in the world assemble at the Beverly Hilton in Beverly Hills, California, for a plant-based meal (for the first time).

Here are five things to watch for during the awards show.

READ MORE: 'Marriage Story' leads the Golden Globes field with 6 nominations, including best drama

Watch as Ricky Gervais takes his final hosting shots at Hollywood

Often drinking lager at the podium, Gervais has a reputation for taking the mickey out of the biggest stars in Hollywood, many of whom will be seated mere feet away from the "After Life" star.

Gervais has been especially harsh toward the Hollywood Foreign Press Association, the group who previously hired the acerbic star for three successive years – from 2010 to 2012 and a fourth time in 2016.

But this fifth time will be significant since Gervais has promised that it will be his final show. This, in his words, "could make for a fun evening." The British comic has already stepped into real controversy on Twitter, making a joke last month that critics found transphobic. Far from apologizing, Gervais carried on.

I don’t try to offend, but the more people are offended by a joke, particularly on twitter, the funnier I find it. And the angrier the tweet, the more chance of me using it and turning it to laughs and cash. PC culture isn’t killing comedy. It’s driving it. As it always did

— Ricky Gervais (@rickygervais)October 31, 2019

"The more people are offended by a joke, particularly on Twitter, the funnier I find it. And the angrier the tweet, the more chance of me using it and turning it to laughs and cash," he wrote. "PC culture isn’t killing comedy. It’s driving it. As it always did."

This will make for a riveting evening.

READ MORE: Golden Globes 2020: How to watch the show and what you need to know

Awkwafina could make history as the awards race starts

The Golden Globes are decided by a small group of foreign journalists, but the results do give a sense of trends that could play out in the awards season ahead of the Oscars on Feb. 9, along with giving a major boost to winners.

Director Noah Baumbach's "Marriage Story" leads all films with six nominations (including acting nods for stars Adam Driver and Scarlett Johansson), ahead of Martin Scorsese's "The Irishman" with five (including for stars Al Pacino and Joe Pesci). Awkwafina is the odds-on favorite to make history with a best actress in a musical/comedy win for her role in "The Farewell," which would make her the first Asian actress to win the category. That will be a speech to remember.

Just as riveting will be the prospect of Joaquin Phoenix pulling a best actor award (as pundits predict) for the dark hit "Joker," and what the wild-card actor will say from the lectern.

In the best comedy/musical actor category, Eddie Murphy looks to revive his awards season mojo with a best actor win for "Dolemite Is My Name," and Renee Zellweger starts her awards spotlight run, looking to win best actress in a drama for "Judy."

It's a fashion show with the world's most glamorous stars

The Golden Globes is almost custom-built to please TV viewers, with multiple categories to make sure the big stars get the nominations and walk the red carpet. Nominated mega-stars Brad Pitt and Leonard DiCaprio will represent "Once Upon a Time in Hollywood." Meanwhile, just the best actress in a drama category includes Zellweger, Johansson, Charlize Theron ("Bombshell"), Cynthia Erivo ("Harriet") and Saoirse Ronan ("Little Women").

The Golden Globes are less rowdy inside than the show's craziest days, such as the legendary 1958 show during which Frank Sinatra and alcohol-fueled members of the Rat Pack took over award presentations in a show that went until 1 a.m.

But the champagne still flows freely during the awards program, which always makes for excitingly unpredictable TV viewing.

Beloved Tom Hanks gets a lifetime achievement award

This is going to be "Big." Tom Hanks, 63, will take the Globes' lifetime achievement salutation, called the Cecil B. DeMille Award, which goes to those leaving a lasting impact on the film industry. Past honorees include Robert De Niro, Audrey Hepburn, Harrison Ford, Jodie Foster, Sidney Poitier and Steven Spielberg.

The Oscar-winning Hanks has already been nominated for a Golden Globe for his Mister Rogers role in "A Beautiful Day in the Neighborhood." But this is a sure win, with big names paying their respects on the podium, a film tribute that would make Forrest Gump blush, and Hanks giving a speech.

Ellen DeGeneres follows in the footsteps of Carol Burnett

This is going to be funny, and touching. Ellen DeGeneres, 61, will be the second recipient ever of the Carol Burnett Award, citing the highest level of achievement in television. It's exclusive company, since the only other winner is Burnett, who took the first award in her name last year. "The Ellen DeGeneres Show" host and "Ellen" star will be recognized for her impact. The moment will have resonance and, no doubt, many laughs.