Preheat the oven to 350°F

In a Dutch oven or heavy bottomed skillet set over medium-high, sauté the bacon until golden brown.  Transfer to a plate and reserve.

Sprinkle the beef chunks with 1/2 teaspoon salt and 1/4 teaspoon pepper. and working in batches, sear the beef cubes in the bacon drippings, turning until browned on all sides, about 5-8 minutes.  Transfer to a large bowl and continue the process until all the beef has been seared.

Add the chopped onion to the bacon fat and sauté until translucent, about 2 minutes.  Stir in the garlic cook until fragrant, 30 seconds, then stir in the tomato paste.

Sprinkle the flour over the vegetables and cook for 2 minutes, stirring to coat.  

Slowly, pour in the wine and the beef broth whisking until the sauce is slightly thickened and smooth.  

Return the bacon and the seared beef to the pot, add the carrots, thyme sprigs and bay leaves.  Season with salt and pepper.  

In a skillet set over medium heat, melt the butter and sauté the mushrooms to the skillet and sauté until lightly browned, 3-4 minutes.  Transfer to the bowl.  Add the pearl onions to the skillet and sauté, adding additional butter as needed until lightly browned then transfer to the bowl with the mushrooms. 

After the beef has cooked for 1 to 2 hours and is partially tender, add the mushrooms and pearl onions to the pot, stirring to combine.  

Re-cover the pot, transfer back to the oven and continue cooking until the beef is fork-tender, about 1 additional hour.

Transfer the pot from the oven and serve directly from the pot over individual servings of mashed potatoes and garnished with chopped parsley.