The 5th Academy Awards were held by the Academy of Motion Picture Arts and Sciences on November 18, 1932, at the Ambassador Hotel in Los Angeles, California, hosted by Conrad Nagel. Films screened in Los Angeles between August 1, 1931, and July 31, 1932, were eligible to receive awards. Walt Disney created a short animated film for the banquet, Parade of the Award Nominees.

Five Star Final is a 1931 American pre-Code drama film about the excesses of tabloid journalism directed by Mervyn LeRoy and starring Edward G. Robinson, Aline MacMahon and Boris Karloff. The screenplay was by Robert Lord and Byron Morgan based on the 1930 play of the same name by Louis Weitzenkorn. The title refers to the practice of newspapers publishing a series of editions throughout the day, with their final-edition front page having five stars printed and the word "Final." "Five Star Final" is also a font introduced during World War I and then favored by newspapers for its narrow type.