Faction Change question

RE: Argent Tournament

First off let me say I know that the Argent tournament reputation/achievements reset when you faction transfer, I have done it before. My question is this:

If you faction change from Alliance > Horde > Alliance again, will the reputation/achievements be restored to the same level they were when you were Alliance the first time? Do I have to start fresh each faction transfer, or does the system save your progress under each faction so you essentially only have to go through it twice total (once for Alliance, once for Horde)?

Thanks