Some long standing issues concerning the quantum nature of the big bang are resolved in the context of homogeneous isotropic models with a scalar field. Specifically, the known results on the resolution of the big bang singularity in loop quantum gravity are significantly extended as follows: i) the scalar field is shown to serve as an internal clock, thereby providing a detailed realization of the `emergent time' idea; ii) the physical Hilbert space, Dirac observables and semi-classical states are constructed rigorously; iii) the Hamiltonian constraint is solved numerically to show that the big bang is replaced by a big bounce. Thanks to the non-perturbative, background independent methods, unlike in other approaches the quantum evolution is deterministic across the deep Planck regime.