Preheat the oven to 300 degrees F. Place the cubed meat ino a 9x13-inch inch pan.
In a large bowl, mix together the mushroom soup, gravy mix, onion soup mix, mushrooms, and water or ginger ale. Pour mixture over the beef.
Cover with foil and bake for 2 1/2 - 3 hours. Do not remove the foil until it is done cooking.
Serve over rice, egg noodles, or mashed potatoes.