Grease and flour a 9" round or square cake pan. Set aside.
Preheat the oven to 350 degrees F.
In a large mixing bowl, whisk together the dry ingredients (flour, sugar, baking powder, baking soda and cinnamon).
In another mixing bowl, whisk together eggs, oil, vanilla and grated carrots.
Add the wet ingredients to the dry ingredients and stir with a spatula until combined.
Pour the batter into the prepared pan.
Bake the cake for 25 to 28 minutes OR until the toothpick inserted in the center of the cake comes out clean.
Cool the cake in the pan for 10 to 15 minutes. Invert gently onto a serving cake stand or plate.
Cool completely before frosting.
to make the frosting:
In a medium mixing bowl, beat together cream cheese and butter.
Add vanilla and mix well.
Add sifted powdered sugar and cinnamon and mix in well.
Beat the frosting for 2 to 3 minutes.
Spread over cooled cake.
Slice and serve.
Store any leftovers in a covered container in the fridge.
Notes
I highly recommend grating the carrots on the fine side of the grater. It will prevent them from sinking and won't have long strings of carrots in the cake.