***
SELECT id,
IF(type = 'P', amount, amount * -1) as amount
FROM report
***
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.