In a large skillet over medium heat, cook bacon until crisp. Transfer cooked bacon to paper towel-lined plate to de-grease. Do not clean skillet out. Set plate of bacon aside.
To same skillet over medium heat, add butter and allow to melt. Using a wooden spoon, scrape up any browned bits from bottom of skillet. Add mushrooms and cook for about 2 minutes, stir, and cook for an additional 2 minutes until all mushrooms are golden on both sides.
Stir in chicken stock and allow time for it to reduce, about 1 minute, stirring occasionally.
Reduce stovetop heat to low, sprinkle and stir in Italian seasoning, garlic powder, dried thyme, and onion powder atop mushrooms in skillet. Then, stir in heavy cream and allow cream to reduce and a sauce to form, which should take about 5 minutes, stirring occasionally.
While sauce reduces, crumble cooked bacon. Keep crumbles on plate until sauce has reduced.
Once sauce has reduced, sprinkle salt and pepper into skillet. Then, stir in bacon crumbles and grated Parmesan.
Remove skillet from heat, garnish with fresh parsley and freshly-cracked pepper, then serve.