Yes, if you are on land and your observations are correct and your time is correct and your charts are accurate and you have a good instruments you should be dead on. However, the whole purpose of that instrument is to let you know where you are when there are no landmarks available to the naked eye. But the limited knowledge I have on this subject is that you must be aware of the errors that can occur in your measurements and reference points. Accuracy is a matter of what care you put into those measurements and navigation techniques you have available to you. But you really do not appreciate these techniques until you have been truly lost. When the sky is the same color of the ground, the terrain is the same and you find footprints in the snow that are yours. And add to the fact you have no survival gear with you. I would have been very happy to know where I was with in a mile or so. So accuracy is relative. You need to know where you are so you can move to where you want to be. I am now the proud owner of about five compasses and one plastic sextant for use in a lifeboat!