A system and method for lossless and/or progressive to lossless data coding (e.g., audio and/or image) is provided. The system and method employ a multiple factorization reversible transform component that provides quantized coefficients based, at least in part, upon a multiple factorization reversible transform. The multiple factorization reversible transform component can employ an N-point modulated lapped transform in accordance with one aspect of the present invention. The multiple factorization reversible transform component can comprise a modulation stage, a pre-FFT rotation stage, a complex FFT stage and a post-FFT rotation stage.