Admits the information is contained in the accounts (12)

I believe the answer is:

acknowledges

I'm a little stuck... Click here to teach me more about this clue!

'admits' is the definition.
('acknowledge' can be a synonym of 'admit')

'information is contained in the accounts' is the wordplay.
I cannot quite see how this works, but
'information' could be 'knowledge' (I've seen this before) and 'knowledge' is located in the answer.
'accounts' could be 'acs' (ac is short for account) and 'acs' is located in the remaining letters.
No letters remain.
This may be the basis of the clue (or it may be nonsense).

'the' is the link.

Can you help me to learn more?

I've seen this clue in The Irish Independent.

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