the most accurate way of estimating body fat for the general population is by using skinfolds and regression equations (but even anthropometry cannot estimate how much deep adominal fat you have). as mentioned before, they tend to underestimate or overestimate values based on hydration levels and they have a flaw in which they assume that fat mass and fat free mass is the same density across the population
so accuracy = no, but they can be used as a reference for weight loss if every reading you take is taken under the same conditions