Heat oven to 350 degrees and toast almonds by placing on a cookie sheet. Bake until they are lightly golden (about 7-10 minutes). Remove from oven and set aside.
Cream butter and sugar, then add eggs one at a time, beating well after each addition. Add extracts.
In a separate bowl, combine flour, baking powder and salt. Add to the creamed mixture and mix well. Stir in cranberries and almonds, cover and chill for 30 minutes.
Cut dough in half. On a floured surface, shape each half into a loaf 2 inches in diameter. Place on cookie sheet and bake at 350 degrees for 35 minutes.
Cool for 5 minutes. Cut diagonally into 1 inch slices. Place slices on an ungreased cookie sheet and bake for 9-10 minutes.
Turn slices over, bake for 10 more minutes or until cookies are golden brown. Transfer to cooling racks and allow to cool.
If desired, melt white baking chips and vegetable shortening in a bowl by microwaving. Check every 20 seconds and mix, making sure you don't overheat or it will "seize up". Get it to the point where it is thin enough to drizzle, or use pastry bag to pipe. Let dry.