In a small saucepan over medium heat, melt butter and mix with garlic powder and dried parsley.
Place Italian bread on a medium baking sheet. Using a basting brush, brush generously with the butter mixture.
Bake in the preheated oven approximately 10 minutes, until lightly toasted. Remove from heat. Sprinkle with mozzarella cheese and any remaining butter mixture. Return to oven approximately 5 minutes, or until cheese is melted and bread is lightly browned.