An apparatus and method for performing enhanced algorithmic processing, including reduced cycle-count fast Fourier transform (FFT) calculations. In one aspect, the invention comprises a user-configurable processor having an extension instruction adapted for reduced cycle-count algorithmic operations. In one exemplary embodiment, the processor is an extensible core, and the extension instruction comprises a 32-bit instruction word linked with existing circuitry in the processor core used for multiply-accumulate (mac) instructions. 16-bit, 24-bit, and dual 16-bit multiply options are available for the multiply/accumulate unit of the processor. The extension instruction is pipelined to the same number of stages as the mac instructions, thereby avoiding unnecessary stalls and increasing performance. A modified accumulator data path used in support of the foregoing instruction is also described. A computer program and apparatus for synthesizing logic implementing the aforementioned functionality are also described.