Here's what I grew up with, I believe it's British in origin.
Two versions - the one husband grew up with, you shallow-fry slices of bread (usually cut into quarters or halves, with or without crusts) in oil or fat of some kind. If you want a sweet version you sprinkle the bread with icing sugar (confectioner's sugar) and let the sugar caramelise by frying it in unsalted butter. The end result is oily, but also crispy all the way through.
Now for mine - you get a saucer of milk, or milk and beaten egg. You dip the bread slice pieces in the milk briefly, then immediately put them in hot fat. Our family used to use bacon fat and serve these sprinkled with salt. It was a rare treat to make this, when we had fresh bacon fat. The outside goes crispy and the inside is soft and moist. The fat doesn't penetrate in when you dip the bread. The contrast between the crisp outside and the softer inside is lovely. But don't soak the bread or the inside is soggy. If you use egg, that seals it even more and gives it a richer taste. The egg mix is better for the sweeter version.
When we were in NZ and badly snowed-in with very few provisions left, all we had for food was a dried hunk of "Maori bread" (a sort of giant scone or soda bread), the sachets of sugar you find in motel accommodation, a couple of UHT sachets of milk and a tub of butter. I think we had some ground cinnamon as well. I had to turn it into a meal for five people. I somehow managed to eke out a couple of milk sachets, I sprinkled sugar on the slices of 'bread' in the pan and then a little cinnamon in with the milk, then pan-fried it in butter. That was our evening meal. We'd eaten our supplies down because we were supposed to hit the road (somehow!) next morning.
Marg