Preheat oven to 350°F (175°C). Grease and flour a baking pan.
In a large bowl, whisk together flour, baking powder, baking soda, cinnamon, and salt.
In another bowl, beat eggs and sugar until well combined. Add oil and mix well.
Gradually add the dry ingredients to the wet ingredients, mixing until just combined. Fold in the grated carrots.
Pour the batter into the prepared baking pan. Bake for 40 minutes or until a toothpick inserted into the center comes out clean.
Let the cake cool completely before frosting.
For the frosting, beat the cream cheese and butter until smooth. Gradually add powdered sugar and vanilla extract, beating until creamy.
Spread the frosting over the cooled cake. Serve and enjoy!