Sift together 2 cups all-purpose flour, 1 teaspoon baking powder and ¼ teaspoon salt. Reserve. I measure the ingredients and sift them directly when adding them to the butter mixture.
Preheat the oven to 350ºF (180ºC). Grease a large 10-cup bundt cake pan with soft shortening. Dust with flour, shaking off excess.
In a large bowl, beat brown butter, gradually add 1 ½ cups light brown sugar, and beat for 3 minutes, until light and airy.
Add 2 eggs, one at a time, beating well after each addition.
Add the dry ingredients in 3 parts, alternating with ¾ cup buttermilk and 1 teaspoon vanilla extract in 2 parts. Don't overbeat as it will make the cake tough. I like to use a silicon or rubber spatula at the end to make sure it's all well integrated and that no dry ingredients are left at the bottom of the bowl.
Put the batter in the prepared pan and bake for 45 to 55 minutes, or until a cake tester or toothpick comes out clean.
Cool for 10-15 minutes on a wire rack and carefully remove from the pan onto a cooling rack. Cool completely before glazing.
Store leftovers wrapped in film or covered.