In a 12-inch saucepan over medium-high heat, cook bacon, stirring occasionally, until crisp around edges, around 8 minutes. With a slotted spoon, lift bacon pieces from pan and set aside.
Spoon off and discard all but 3 tablespoons of the fat or drain it all and use 3 tablespoons vegetable oil. Add mushrooms and onion to pan and cook, stirring occasionally, until liquid cooks away and mushrooms are golden. Add broth, Kaniwa, carrots and green pepper. Bring to a boil over high heat. Cover and simmer until liquid is absorbed about 15 minutes. Take off heat, remove lid and let stand 2 minutes. Stir with a fork to separate grains.
Spoon onto serving dish and sprinkle with cooked bacon.
