Preheat oven to 350ºF. Line muffin pans with paper liners
Combine flour, sugar, brown sugar, baking soda and spices in a large mixing bowl. Set aside. Bring cocoa, butter and water to a boil in a small saucepan. Pour hot mixture over flour and sugar; stir to mix thoroughly
Whisk buttermilk, eggs, vanilla extract and almond extract together in a small bowl. Add to chocolate batter and mix well. Portion batter into muffin pans, filling about two thirds full. Bake for 20 to 25 minutes until toothpick inserted in center comes out clean. Remove to rack and cool for at least 30 minutes
To prepare frosting, combine butter, buttermilk and cocoa in a small saucepan; bring to a boil. Remove from heat and gradually stir in powdered sugar and extracts. Beat until smooth. Spread over cupcakes and immediately sprinkle with almonds.