Step 1: What Do You Need?
2 cups of all-purpose flour
1 teaspoon salt
1/2 teaspoons baking soda
2 1/2 teaspoon baking powder
1/2 cup shortening
3/4 cup buttermilk
With the buttermilk, you can easily make your own for a fairly cheap price. Just follow SFHandyman's Instructable on how to make butter. It turns out a good quality buttermilk. I found that a pint of heavy cream yielded exactly 3/4 cup buttermilk, but it could be different in your case, so be sure to measure it if you make your own.
And thanks to InvaderDig for providing a subtitute for the shortening, if you'd rather use real butter. Subtitute 1/2 cup + 1 tablespoon butter in place of the shortening.
Step 2: Mix It Up!
Step 3: Rolling and Rolling....
*NOTE*: make sure your hands are nice and floured! Otherwise, you'll end up with half of the dough stuck to your hands.
Work enough flour into the dough to make it un-sticky (is that a word?) and able to be worked with easily. However, make sure to not knead the dough too much, otherwise you'll end up with rocks.
Once it is kneaded and able to be worked with, roll the dough out to a thickness of between 3/8 and 1/2 inch thick. I found it just as easy to just pat the dough out with my hands as it would be to roll it out.
Step 4: Baked
To bake the biscuits, preheat the oven to 450F. Grease a baking sheet/tray (I used a spray oil, such as Pam or Crisco) and bake for 8 - 10 minutes, or until they're a light golden brown. After baking, the bottoms of the biscuits should be a nice, deep golden brown color (they were on mine, at least. They may not end up that way every time).
Step 5: Eat It Up!
If you have any questions or suggestions, feel free to ask!