AK47 is far from an accurate weapon, shooting with sar-80 or M-16 after being used of AK makes you feel like a sniper.
...but it's the best for what it's been built for, extreme weather conditions, it's easier to operate with you've got 9 malfunctions of which 7 never happened to me, far more soldier friendly, spares you some time cleaning it (except the barrel which demands more time), it's really hard to damage it and is practicaly made for a person to deal with it for half an hour and be able to operate with it afterwads.
I also personaly prefer 7,62mm caliber, penetrates better and with extreme wind you're actually able to hit something on more than 300 meters. The thing with accuracy is that eastern block prefered quantity instead of quality, heavily lacking ephasis on balistics as well.
sadly newer got to see the never versions of AK-47 made by Russia or Serbia (not operational though), but I have a feeling those must be really good weapon from all aspects...