VALUE CLAUSE:
The value clause defines the preliminary value of the data item.
Normally initialization will be completed just before the first statement in the procedure division is executed.
The syntax is:
VALUE is literal
The literal can be any of the numeric value, a nonnumeric string of characters involved within the quote (") or any figurative constant.
Examples:
1) 01 a pic value is 100
2) 01 compname pic x(15) value is "ABC Company"
3) 01 n pic 9(2) value is ZERO
4) 01 ans pic x value is space
5) 01 result pic x(4) value spaces.
6) For Group Data value specification
01 test-entry value is "123456".
02 t1 pic 9(2).
02 t2 pic 9(2).
02 t3 pic 9(2).
Here t1=12, t2=34 & t3=56.