Preheat oven to 350°F (175°C). Grease and flour two 9-inch round cake pans.

In a large bowl, whisk together flour, sugar, baking powder, baking soda, and salt.

In a separate bowl, combine buttermilk, oil, eggs, almond extract, and vanilla extract. Add wet ingredients to dry ingredients and mix until just combined.

Pour batter evenly into prepared pans. Bake for 30-35 minutes, or until a wooden skewer inserted into the center comes out clean.

Let cakes cool in pans for 10 minutes before inverting onto a wire rack to cool completely.

In a large bowl, beat butter until light and fluffy. Gradually add powdered sugar, alternating with heavy cream, until smooth and creamy.

Stir in almond extract.

Place one cake layer on a serving plate. Spread with frosting. Top with the second cake layer. Frost the top and sides of the cake with the remaining frosting.

Decorate as desired. Chill for at least 30 minutes before serving.