No, slip and skip are not the same.
p1, skip 1 st and k into 2nd st, then k into skipped st and slip both sts from needle together
I remember the first time I encountered this, I thought it was impossible to do.
You actually by-pass the first stitch at the end of the needle that you would usually knit into and knit into the second stitch. It seems crazy but it works.
Just insert the RH needle into that 2nd st exactly like a regular knit, yarn around like normal and pull up the new st loop. Stop right there. Don't slide anything off the LH needle yet. Now go back to that st you skipped and knit it and after you pull up the new st loop slide the whole works off the needle. It makes a miniature twist. It won't look like much until you get quite a few of them on top of each other and then you will be able to see what it is doing.