applicant for the second William D. Thomson insurance scholarship programme announced by the Bank of Bermuda.

The BII is managing the award that will be undertaken at the New York College of Insurance. The scholarship is worth $10,000 annually over three or four years. The bank and the institute will select a suitable applicant from written applications and are also hoping to find companies that would be interested in offering the required work experience.

BII director, Ian Linnegan, said: " It is intended that most periods of work experience should be undertaken at a Bermuda company and that a salary would be offered during the work experience period.

"It is not intended that potential sponsoring companies would be in competition over salary levels offered. This would be determined at the outset by the Institute and the student would interview interested companies and select the company offering the most appropriate training programme for their needs and interests.'' Companies that are interested in participating by offering employment or who may know a suitable candidate for the scholarship winner are asked to contact the institute with further details.

*** NJ For US accountants, the end of income tax season is as big a kick as the end of school is for kids. Maybe even bigger. A Honolulu firm rents out the estate where the TV series "Magnum P.I.'' was filmed and throws a huge party. The office also shut down for several days so the staff can recover from their ordeal, says The Practical Accountant, a trade magazine.

Other firms have cocktail soirees, give employees gifts or treat them to dinner and a show. One Augusta, Ga. firm helped employees work off their frustration last year with skeet shooting at its post-tax party. Workers ate quail and venison the firm's partners bagged on a hunting trip.

*** TAX If the big leagues want to sign you to a million-dollar contract, don't do it, not unless you're willing to get socked with a big tax bill, say accounting experts at the University of Dayton.

"Professional athletes do have unique tax problems because the bulk of their lifetime earned income is compressed into approximately one decade,'' says Larry Hadley, an associate professor of economics and finance. Hadley says athletes would be better off taxwise if they spent 40 years in the accounting business rather than earning millions for maybe 10 years.

But many accountants who make a living with ledger books wouldn't mind paying a few more taxes if it meant they could score a touchdown or sink a winning bucket at the buzzer.

*** BUC With summer approaching, ice cream makers are trying to keep up with every new trend in frozen desserts -- bigger, better, lighter, richer.

Borden Inc. says it's bringing out a low-fat ice cream in 10 flavors, including cookie dough and cookies and cream. Baskin-Robbins, meanwhile, is aiming at a jazzier part of the market, offering a drink that's part cappuccino, part ice cream or frozen yogurt. People who can't decide whether to have dessert or coffee will appreciate that one.

*** SUR Employees would work better if they slept better, contends the Better Sleep Council. The group did a survey of workers and found that one in three found a lack of sleep affected their work.

Nearly 20 percent said they dozed off at work. The council, supported by the mattress industry, has some suggestions -- keep regular hours, exercise, cut down on caffeine, nicotine and alcohol, and don't overeat or fast before you sleep. Of course, the group also recommends getting a better bed -- "a mattress that's too small, too soft, too hard or too old can rob you of healthy sleep.''