In 6 Qt. pot, sauté bacon until crispy. Remove, let cool a bit, crumble and set aside leaving bacon grease in pot. Add chopped onion to pot and sauté until transparent. Remove onions and drain excess grease from pot.
Combine in pot, onions, crumbled bacon, cooked macaroni, tomato soup, water, salt & pepper & parsley. Stir and simmer on medium heat for 30 minutes or until the macaroni starts to absorb the soup. Remove from heat and let stand for 15-20 minutes to thicken a bit.