Preheat the oven to 350°F (175°C). Line a 9 x 9-inch baking pan with parchment paper and set it aside.
In a large bowl, use a hand or stand mixer to beat the softened butter and sugar together until fluffy. Then, add the egg, vanilla extract, almond extract, and cream cheese, mixing until well combined. Be sure to scrape down the sides of the bowl as needed.
Gradually add the flour and baking powder, mixing until a thick cookie dough batter forms. Take care not to overmix.
Spread the cookie dough evenly into the prepared baking pan, smoothing it out with a spatula. Bake for 20-25 minutes, or until the mixture is set and the top is a light golden brown. Allow it to cool for a few minutes.
Meanwhile, prepare the frosting. In a medium bowl, beat together the butter, powdered sugar, milk, vanilla extract, and pink food coloring gel. If the frosting is too thick, add more milk; if it's too thin, incorporate additional powdered sugar until the desired consistency is reached.
Once the cookie bars have cooled, spread the frosting generously on top. Sprinkle with additional toppings if desired, and cut into 16 square bars. Enjoy!