Austrian/Hungarian Goulash

My mother used to make Goulash, It was nothing like this in fact I didn't like it at all. When I found this recipe the name of it alone turned me off, but I read tde ingredients and the picture did not resemble the mess my mother made of this amazing dish. So I did it and it was one of the best things I ever ate.

Ingredients
5 slices bacon, chopped
3 pounds boneless chuck, trimmed and cut into 1/2-inch cubes
2tbsp vegetable oil
1 onion chopped fine
2 red bell peppers, chopped fine
3 garlic cloves, minced
3tbsp paprika (Hungarian sweet or Smoked)
1 1/2tsp caraway seeds
1/3c all-purpose flour
1/4c red-wine vinegar
1/4c tomato paste
5c beef broth
1 to 5c water or beer (use less to make a stew, more to make a soup)
G.Salt & Pepper

Method
In an 8-quart heavy kettle, or dutch oven cook bacon over moderate heat, stirring, until crisp and transfer with a slotted spoon to a large bowl. In fat remaining in kettle brown chuck in small batches over high heat, transferring it as browned with slotted spoon to bowl.
Reduce heat to moderate and add oil. Add onions,bell peppers and garlic and cook, stirring, until golden. Stir in paprika, caraway seeds, and flour and cook, stirring, 2 minutes. Whisk in vinegar and tomato paste and cook, (Mixture will be very thick.) Stir in broth, water, salt, bacon, and chuck and bring to a boil, stirring. Simmer soup, covered, stirring occasionally, 60 to 75 minutes or until meat is so tender.
Season with salt and pepper to taste.