Prep Vegetables Peel and cut the onion into slices, chop the garlic. Then peel the carrot and slice, peel the potato and cut into smaller pieces. Cut tomato into quarters and cut out the harder center with the stem part. Keep aside
Cut beef into cubes.
Saute onion and garlic with lard or butter over a medium heat setting in a large pot.
Add beef cubes and cook over high heat stirring frequently until they are getting some color.
Stir in vegetables and combine, take down to a medium heat setting.
Season with bay leaf, salt, black pepper, caraway seeds (or cumin if you can't get caraway seeds), and paprika
Pour broth and water over the inrgedients in the pot and increase heat.
Mix contents, keep over high heat and cover the pot. Bring to a boil and reduce heat to medium thereafter.
Cook for about 50 minutes covered, stirring occasionally over a medium to low heat setting. It should bubble a bit.
Uncover and continue to simmer your Hungarian goulash over a slow flame. The goulash should reduce a bit and gain flavor. This can take another 50-60 mins or until you are satisfied with the taste.
Serve up as is hot in a bowl or with fresh parsley and/or a dollop of sour cream.
Goulash turns out tastier when it is left to cook slowly over a longer period of time. This dish is really great when warmed up again the next day. So, I totally recommend that you refrigerate it overnight and warm it up again the next day. It will turn out more flavorful.