This paper serves as a comprehensive guide for practitioners and scholars aiming to understand the channel coding and decoding schemes integral to the 5G NR standard, with a particular focus on LDPC and polar codes. We start by explaining the design procedures that underlie these channel codes, offering fundamental information from perspectives of both encoding and decoding. In order to determine the present status of research in this area, we also provide a thorough literature review. Notably, we add comprehensive, standard-specific information to these foundational evaluations that is frequently difficult to extract from technical specification documents.