Fact: A fact is reported. A fact defines a single, observable, reportable piece of information contained within a financial report, or fact value, contextualized for unambiguous interpretation or analysis by one or more distinguishing characteristics (properties of the fact). A fact value is one property of a fact. Every fact has exactly one fact value.


-- IMPROVED--
A fact is a single, observable, reportable piece of information of the sort which can be contained within a financial report. Facts are contextualized for unambiguous interpretation or analysis by one or more distinguishing characteristics. A fact has a value property. If a fact value is numeric, the fact value has two properties which help the user interpret the numeric fact value: units and rounding (accuracy, decimals). A fact may have zero or many parenthetical explanations (parenthetical comments) which provide additional descriptive information related to the fact.

(how, in this framework, do you deal with reported pieces of information which are false?)