In architectural terminology, the frieze refers to the trim placed immediately below the roof eave but it is really a part of a larger assembly from classical architecture that is known as the entablature.
The entablature has three distinct components. Beginning at the bottom is the architrave, a simple band that spans across columns. Above is another band, the frieze, which might have ornamental detail or not and above that, the cornice, the ornamental roof edge that extends from the building.
The First Church of Christ, Scientist at Peachtree and 15th streets is an excellent example of a classically derived entablature.