Seeking Advice on Steps to Take for PhD in Finance/Accounting

[phdwannabe6]

Hello,

I graduated from the University of Florida in 08 with a BA in English. I had great grades and my GRE/GMAT scores are 90th percentile. Since graduation I have cofounded a successful internet startup with my husband (a superstar software engineer) and have done much of the financials/book-keeping/accounting for the S-Corp, after much self education (i.e Google searches!) ...and I love it! After careful consideration I have decided I would like to pursue a PhD in finance/accounting and work in academia. I think the high pay/lifestyle of a professor is ideal for my situation (My husband and I currently have 3 kids! and we're crazy but we want one or two more!).

I currently live in Boston and will not be moving ever (we waited until the market really crashed and picked up an amazing home on Boston's beautiful, elite North Shore for an unbelievable short sale price and we are never leaving!) So I am limited to online universities and universities in Boston (good thing there are plenty here!) I would eventually LOVE to get into the business PhD programs at MIT or Harvard, but know this is not possible with my current liberal arts background. So I would like to know what are the best steps to take to achieve this lofty goal?

After some research my thoughts were initially to enroll at the Harvard Extension School in the Management track and simultaneously pursue an Masters of Accounting at UMass Boston (admissions req. into the program are pretty easy and it's an AACSB accredited school. I would hope to finish both degrees in 3 - 4yrs, then apply to PhD programs. Is this a good idea or is there a better way to prepare? Also does my "real life" experience count for anything with my goals being to work in academia. Along the way I would also hope to sit for the CPA exam as this I hope would help strengthen my eventual PhD application....

I really appreciate any advice!!!