In 12-inch skillet, cook beef over medium heat 6 to 8 minutes, stirring occasionally, until thoroughly cooked; drain.
Stir in water, salsa, beans and taco seasoning mix; heat to boiling.
Reduce heat to low; simmer uncovered 3 to 5 minutes, stirring frequently, until sauce thickens.
Stir in tortilla strips; cook 1 minute.
Top with cheese; cover, and remove skillet from heat.
Let stand 3 to 5 minutes or until cheese is melted.
Top with remaining ingredients.