This research addresses the study of an algorithm called Arithmetic Fourier Transform (AFT) for accurate high-speed Fourier analysis and synthesis. The AFT is based on the number theoretic method of Mobius Inversion . Its computations proceed in parallel and except for a small number of scalings in one stage of the computation, uses only multiplications by 0, +1 and -1. Work is being carried out in studying the properties of this transform and quantifying the advantages of this transform in comparison to other approaches to Fourier analysis.