SELECT id,
IF(type = 'P', amount, amount * -1) as amount
FROM report
See http://dev.mysql.com/doc/refman/5.0/en/control-flow-functions.html.
Additionally, you could handle when the condition is null. In the case of a null amount:
SELECT id,
IF(type = 'P', IFNULL(amount,0), IFNULL(amount,0) * -1) as amount
FROM report
The part IFNULL(amount,0)
means when amount is not null return amount else return 0.
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