Preheat the oven to 350°F (175°C) and grease two 9-inch round cake pans.
In a large bowl, cream together the butter and sugar until light and fluffy.
Add the eggs one at a time, mixing well after each addition.
Stir in the vanilla extract.
In a separate bowl, combine the flour and baking powder.
Gradually add the flour mixture to the creamed mixture, alternating with milk.
Mix until just combined, being careful not to overmix.
Divide the batter evenly between the prepared pans.
Bake for 25-30 minutes or until a toothpick inserted into the center comes out clean.
Allow the cakes to cool in the pans for 10 minutes, then transfer to wire racks to cool completely.
Frost with buttercream and decorate as desired.