You continue to look at things from a non-accounting perspective. Let's just agree to disagree. Accuracy is a subjective term not an objective term. You as a CFA should know that.

Are your valuation models accurate? Perhaps you should have a poll on that. DCF and NPV and the like are mathematically accurate but in application not accurate at all.

Your perception of accounting is bookkeeping, and not accounting. As long as you continue to take that view, I'm afraid that the discussion will go in circles.

If you ask over simplistic questions you should not be surprised if you get overly simplistic answers.