Slice the bacon into pieces about ½ inch wide. In a large saucepan over medium heat, cook the bacon until crispy. Using a slotted spoon, remove the bacon and drain on paper towels.
Add the potatoes and onion to the bacon grease in pan and cook while stirring for about 5 minutes or until the onions are tender.
Sprinkle the potatoes and onions with the flour and stir to coat then cook for 2 minutes while continuing to stir.
After the 2 minutes, add in the milk, broth, salt, and pepper. Bring to a boil and reduce to a slow slimmer on medium low for 25 minutes. Leave uncovered and stir every few minutes to make sure the potatoes are not sticking to the pot.
After the 25 minutes, you can either add in the toppings and stir or dish-out individual servings with the cheddar cheese, green onions, and bacon sprinkled on top.