The paper analyzes the link between indices of phonetic and phonemic representation (phonemic comprehension and quick consecutive identification) assessed at the stage of «after-reading» and indices of the skill of reading isolated words (fluency and accuracy) in primary school, following dynamics of development of those representations in the course of one school year and comparing them with indices of mastering the skill of reading isolated words at school. The author points out that indices of such a skill are linked both to indices of phonetic and phonemic representation assessed simultaneously with accuracy and fluency of reading, and their development indices (level and dynamics).