This article presents a theory of the cognitive processes involved in learn
ing to vend and examines the degree to which measures derived from this the
ory are able to predict success in reading. Measures were selected to addre
ss five phonological processing constructs (naming speed, memory, rhyming,
phonological synthesis, and phonological analysis), letter knowledge,, and
the ability to pronounce words by analyzing them into smaller parts (decodi
ng). Measures of these constructs and several measures of reading achieveme
nt were administered to an initial sample of 161 kindergarten children and
then readministered to as many of the same children as possible in grades 1
and 2; in grade 3 the reading achievement tests were administered. Princip
al components analyses were used to derive factor scores for the phonologic
al constructs in kindergarten and grades I and 2. In grade 2 five factors w
ere found, but in kindergarten and grade 1 the phonological synthesis and a
nalysis measures formed one phonological awareness factor, The factor score
s, letter knowledge, decoding, and the reading achievement scores for each
grade were used as predictors of reading achievement in subsequent grades i
n a series of hierarchical regression analyses. Results supported the propo
sed theory, with phonological awareness (or analysis), naming speed, and le
tter recognition being the most frequent significant predictors and R(2)s r
anging from .69 to .89. The constructs identified in the theory are argued
to be important targets for both assessment and instruction. The value of t
heoretical models of achievement is discussed.