Preheat the oven to 350 degrees F. Line two baking sheets with parchment paper or nonstick silicone baking mats.
Place the butter and sugar in the bowl of a mixer, then beat for 2-3 minutes or until light and fluffy.
Add the eggs, vanilla extract and almond extract. Beat until smooth.
Add the flour and baking powder to the bowl. Beat until just combined.
Use lightly damp hands to roll 2 tablespoons of dough into a smooth ball. Repeat with remaining dough.
Place the cookies 2 inches apart on the baking sheets.
Place the sheets of cookies in the freezer to chill for 20 minutes.
Bake each pan of cookies for 9-11 minutes, or until edges are lightly browned.
Transfer the cookies to a rack and cool completely.
For the frosting, place the powdered sugar, vanilla extract, almond extract and cream in a bowl, then whisk until smooth.
Dip the top of each cookie into the frosting, then add the sprinkles on top of the cookies.
Let the cookies sit for 1 hour for the frosting to harden, then serve.