Heat butter or oil in a large electric skillet or sauté pan over medium-high heat. Add the meatballs without crowding, and gently brown on all sides. Place them on a heated baking pan in a low oven to keep warm.
To make gravy, deglaze the skillet with 1 cup of the stock, letting it simmer for 5 minutes while scraping the bottom of the skillet with a spatula. Add the remaining 1 cup of stock. In a small bowl, mix the flour with 1/4 cup of cold water until smooth. Whisk flour mixture into warm gravy, and let simmer, whisking constantly to prevent lumps, until thickened slightly, about 3-5 minutes. Add the cream and season with salt and pepper.
To serve, place meatballs in a serving dish, pour hot gravy over them, and garnish with parsley. Serve with potatoes, buttered noodles or cooked rice, and sprinkle with parsley.