Heat oven to 350°F. Spray 13x9-inch (3-quart) glass baking dish with Crisco® Original No-Stick Cooking Spray. Separate biscuits; cut each into quarters. Arrange in single layer in baking dish.
In medium bowl, beat cream cheese with electric mixer on medium speed 15 seconds or until smooth. Add 1/2 cup of the frosting, egg yolk and almond extract; beat until blended. Spoon and spread over biscuits.
In small microwavable bowl, microwave preserves on Medium (50%) 30 to 40 seconds or until softened; stir. Spoon and spread evenly over cream cheese mixture. Sprinkle with almonds.
Bake 25 to 30 minutes or until edges are golden brown. Cool 10 minutes. In small microwavable bowl, microwave remaining 2 tablespoons frosting on Medium (50%) 15 seconds. Drizzle over biscuits.