Cream the butter and sugar until light and fluffy. Add the eggs one at a time, beating well after each addition. Mix in the almond extract. In a separate bowl, combine the flour and baking powder. Gradually add the dry ingredients to the wet mixture, alternating with the milk, beginning and ending with the flour.

Preheat the oven to 350°F. Divide the batter evenly between two greased and floured 9-inch round cake pans. Bake for 25-30 minutes, or until a toothpick inserted into the center comes out clean. Cool the cakes in the pans for 10 minutes, then transfer to a wire rack to cool completely.

In a mixing bowl, beat the butter until creamy. Gradually add the powdered sugar, beating until smooth. Mix in the almond extract and heavy cream until the frosting reaches a spreadable consistency.

Place one cake layer on a serving plate and spread a layer of almond buttercream on top. Place the second layer on top, and frost the top and sides of the cake with the remaining buttercream. Smooth the frosting with a spatula for a clean finish.

Slice the cake into 8 pieces and serve on a special occasion or celebration. Pair with a light beverage like champagne for a classic touch.

Store any leftover cake in an airtight container at room temperature for up to 3 days, or refrigerate for up to a week. Allow the cake to reach room temperature before serving again.