How to convert flac encoded files to mp3 on Ubuntu (Debian) Linux

Flac is lossless compression format for audio files. Lossless means that you will get exactly the same quality of sound as original CD (raw wav files). The file compressed with flac is 60 % of original not compressed file size. Recently flac format gain increasing popularity amongst audiophiles. Due to a large capacity of modern HDDs and extremely cheap external flash USB drives many people prefer flac format to store their music collections. The big disadvantage of flac though that very few (if any) portable devices support flac format. Unfortunately my audio players (Sony Walkman and iPod 4) do not support flac. Recently I got few audio albums encoded with flac...
If you have Debian or Ubuntu system installed then problem can be easily solved.
Install 2 packages with standard Debian magic:

sudo apt-get install flac
sudo apt-get install lame

flac - is standard flac encoder/decoder.
lame - the best known mp3 encoder.
Change directory to place where flac encoded files located, in my case:

cd /home/oleg/Music/Coldplay

Run commands to convert files:

find . -name "*.flac" -exec flac -d {} \;
find . -name "*.wav" -exec lame {} \;

Remove flac and wav files if you do not need them.
Unfortunately if you have Mac OS X system you have to compile both encoders in standard Unix way. If you need Mac OS X guide please post a comment.