Independent succeeding to bury bill lacking in precision (7)

I believe the answer is:

inexact

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'lacking in precision' is the definition.
'inexact' can be an answer for 'lacking' (thesaurus). I'm unsure of the 'in precision' bit.

'independent succeeding to bury bill' is the wordplay.
'independent' becomes 'i'.
'succeeding' becomes 'next' (similar in meaning).
'to bury' indicates putting letters inside (inserted letters are buried inside).
'bill' becomes 'ac' (short for account).
'next' enclosing 'ac' is 'nexact'.
'i'+'nexact'='INEXACT'

Can you help me to learn more?

(Other definitions for inexact that I've seen before include "Not entirely accurate" , "estimated?" , "Not quite right" , "Nice tax (nag.)" , "Not precise, ambiguous" .)

I've seen this clue in The Telegraph.

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