Line 2 cookie sheets with parchment paper and set aside.
In a large mixing bowl add the shortening, butter, cream cheese, sugar, eggs, vanilla extract and almond extract. Mix until light and fluffy.
In a medium bowl whisk together the flour, salt and baking powder.
Add dry ingredients to the wet ingredients, blend until combined.
Divide dough into 12 (3.6 ounce) balls.
Place (6 balls per cookie sheet) on prepared cookie sheets, refrigerate 2½ hours.
Preheat oven to 350°. NOTE THESE COOKIES WERE BAKED IN A CONVECTION OVEN YOU MAY NEED TO ADJUST BAKING TIME FOR AN ELECTRIC OR GAS OVEN. Bake 16-18 minutes. Slide the cookies still on the parchment paper onto the counter to cool completely.
Frost cooled cookies and add sprinkles.
In a large mixing bowl, add the butter. Beat until light and fluffy (about 3 minutes).
Add powdered sugar, vanilla and milk (or water).
Beat on low until sugar is incorporated, then on high until light and fluffy (about 3 minutes).
