Preheat oven to 350 degrees. Butter and flour 10 in. bundt pan or two standard loaf pans.
In large mixer bowl cream sugar and butter together until light and creamy. Add eggs one at a time. Add vanilla and almond extracts.
Dissolve soda into the buttermilk and set aside. Combine the flour and salt.
Starting with the flour add the dry ingredients alternately with the liquid ending with the dry. Mix just until everything comes together being careful not to overmix at this stage. Stir in the sprinkles by hand.
Pour batter into prepared cake pan(s). Cook for about 1 hour or until a tester comes out clean.
Remove from oven and let sit for about 10 minutes before removing cake from pan onto a cooling rack. I usually run a knife around edges just to make sure the cake comes out all in one piece!
Make a glaze by mixing the powdered sugar and water. Pour over the cake and add more sprinkles while the glaze is still wet.
Allow cake to cool completely and move to a cake plate. I usually use a large spatula to make this easier and sometimes two if needed.