The apparatus and method of monitoring and/or indicating an accurate state-of-charge of a battery compensates for varying current loads and changing temperature conditions. The apparatus and method compensate for the Peukert Effect which manifests itself when varying current loads are applied to the battery. Also, the apparatus and method may compensate for temperature changes in the environment of the battery. The extent of the Peukert Effect and temperature variation on the battery is based on intrinsic characteristics of the battery which may be experimentally defined. Specifically, preferred apparatuses include memories for storing various discharging/charging related values and a processor to calculate and determine values related to accurately monitoring the battery's state-of-charge. Also, the apparatus may include a battery state-of-charge indicator including a multi-segmented, multi-color LED display. The apparatuses and methods use a battery having a state-of-charge equal to the battery's charge capacity (CCAP). The battery's state-of-charge is tracked as it discharges/charges. Preferably, if the discharging current (i) is greater than or equal to a predefined discharging current (I), then the Peukert Equation is utilized to determine the actual discharge of the battery. If I<i, then Peukert Equation is not utilized because the Peukert Effect is not exhibited when i is below I.