"...Yeah it is the most accurate method.
The BMI index is also fairly accurate..."
Be careful of any of the handheld body fat meters you can get commercially. They yield useful results IF you know how they work and their limitations.
An example is the OMRON Body Fat Tester. It works, according to their literature, by sending a slight electrical impulse through electrodes. Your skin's fat percentage determines it's resistance. So far so good.
The problem is...that's not the only locus of body fat in your body. As others have pointed out on other threads, your organs have body fat as well.
So, I tried it. I was a little concerned because it asked me my age. Why would my age have anything to do with what body fat it was going to test? (It also asks other information about height, weight etc.). Then it asks you whether you are an athlete or average. Now why would it ask you that?
Well, because it is making some (mostly wrong) assumptions about organ body fat and non-skin body fat based upon actuarial tables.
Sorry for the long post. But I performed an experiment. This 55 y.o. runner (55 miles per week), 5' 10/1/2", 164 lbs, in 30/31" jeans tested at 24% body fat.
I was aghast. But wait. I put in all the same information, except put my age as 40, and the body fat came down to 16%. Finally, I put in 30 y.o., and it was 11% (which I think is close to correct).
To make sure I wasn't doing cherry picking, I had my friend Tim, who recently was immersion tested at 5.7% (and is totally ripped out) use the machine and put in his actual age of 39 y.o. He "tested" at 16%.
Enuf said. I think you can use such devices, but beware if you are an athlete. They are making assumptions based upon the obese general population.