Ground calibration algorithms for a geosynchronous imaging FTS are being developed at the Uni. of Wisconsin-Madison Space Science and Engineering Center. This development is being conducted in support of NOAA's GOES-R Risk Reduction program with a focus on the hyperspectral sounder that is anticipated to be a part of the GOES-R Hyperspectral Environmental Suite (HES). The near term objective is to develop calibration algorithms that can be evaluated using thermal vacuum test data from NASA's Geosynchronous Imaging Fourier Transform Spectrometer (GIFTS). The GIFTS is designed to produce 128x128 interferograms in two spectral bands every 11 seconds using a Michelson interferometer and two detector focal plane arrays. The telemetry bandwidth of the interferometric data is approximately 55 Mbits/sec after Rice compression. Data rates of this magnitude pose a special challenge to the design of ground data processing systems which will need to keep up with the downlink data stream while converting the interferograms into radiometrically and spectrally calibrated radiances. This paper will address tradeoffs in accuracy versus processing efficiency for the science algorithms that are under consideration for achieving the desired ground data processing throughput for the GIFTS sensor on-orbit calibration.