Preheat the oven to 350 degrees F (175 degrees C). Grease a 10x15 inch sheet pan and line with parchment paper if desired (for easy cake removal).
In a saucepan over medium heat, melt the unsalted butter. Then add the brown sugar and granulated sugar. Bring the mixture to a gentle boil. Stirring constantly until the sugar dissolves.
Remove the mixture from the heat, stir in the vanilla extract. Allow it to cool while you prepare the remaining ingredients.
In a large mixing bowl add the all purpose flour, baking powder, baking soda, and salt. Using a whisk, stir to combine. Set aside.
In a medium bowl, add the sour cream and eggs. Stir to combine.
Add the cool water to the butter sugar mixture in the saucepan to help cool the mixture down, stir to combine.
Add the butter, sugar, and water mixture to the bowl with the sour cream and eggs. Stir to combine.
Add the wet ingredients to the dry ingredients. Stir until just combined.
Pour the batter into the prepared pan and using a spatula, even out the mixture.
Transfer to the preheated oven and bake at 350 degrees F for 20-25 minutes, until a toothpick inserted comes out clean.
About 10 minutes into the baking process, prepare the frosting.
Make the frosting
In a saucepan over medium heat, melt the butter.
Add the brown sugar. Bring to a gentle boil and cook for 2 minutes, stirring constantly so the mixture doesn’t burn or boil over.
Remove from the heat and stir in the cream, salt, and vanilla extract. Stir to combine.
Whisk in the powdered sugar until smooth and pourable.
Immediately pour frosting over the warm cake and spread quickly.
Let it sit for 20-30 minutes before slicing.
Notes
Prepare the frosting while the cake is baking so it’s ready to pour immediately.
Measure and sift the powdered sugar before starting the frosting to prevent clumps.
Work quickly once the powdered sugar is added, as the frosting sets fast.
If the frosting thickens too quickly, stir in 1 to 2 teaspoons of warm cream to loosen it.