Preheat oven to 350. Lightly grease and flour two 9 inch round baking pans.
Combine flour, baking powder, baking soda, salt, cinnamon and ginger in small bowl. Combine sweet potatoes, sugar and brown sugar in large bowl. Add eggs, one at a time, beating well after each addition. Add oil; beat until well blended. Stir in morsels, pecans and water. Stir in flour mixture; mix until blened. Pour into prepared pans.
Bake for 35 to 40 minutes or until wooden pick inserted in centers comes out clean. Cool in pans on wire racks for 10 minutes; invert onto wire racks to cool completely.
Microwave chips and butter in small, uncovered, microwave-safe bowl on medium-high (70%) for 1 minute; stir. Morsels may retain some of their original shape. If necessary, microwave at additional 10 to 15 second intervals, stirring just until melted. Cool to room temperature.
Beat cream cheese and sour cream into morsel mixture until creamy. Add vanilla extract and almond extract. Gradually beat in powdered sugar until mixture reaches spreading consistency.
Spread frosting between layers and over top and sides of cake.