Preheat your oven to 350°F and grease three 12x18 inch baking sheets.
Cream together the butter and sugar until light and fluffy.
Beat in the eggs one at a time, ensuring smoothness.
Stir in the buttermilk and vanilla extract.
Whisk together the flour, baking powder, baking soda, and salt.
Gradually mix the dry ingredients into the wet ingredients until just combined.
Divide the batter evenly among the baking sheets.
Bake for 25 to 30 minutes until a toothpick comes out clean.
Cool the cakes in their pans for 10 minutes, then move to wire racks.
Prepare frosting by beating powdered sugar, milk, and vanilla extract until smooth. Frost cooled cakes and add sprinkles.
Notes
If you have leftovers, wrap the cake in plastic wrap or store in an airtight container for up to 2 days. For longer storage, freeze individually wrapped slices.