Unless you have an ancient bike with points ignition, the timing cannot be adjusted, it's a pre-programmed advance curve in the ignition box. For carb bikes you can have anywhere from 1 to 4 trigger coils that tell the box when to fire the coils, on EFI the computer figures it out from the crank position signal. Older bikes, namely Yamaha's, had crappy analog TCI boxes that are now dropping like flies. As they're dying they can cause all sorts of weird issues, hard starting, runs good cold but not warm, random misfires, ect. By the late 80's almost everything was digital and those problems had mostly been eliminated.
Cam timing can only be set with the engine off....I'd like to see someone try setting it with the engine running.....typically on DOHC engines there's dots/marks on each cam gear that should align with one of the cylinders at TDC, usually whichever is called #1, which is usually the left-most. Sometimes there's a special tool for locating this spot on the crank, sometimes an access port you unscrew to see a mark align with a notch in the case, it varies. Look in the service manual. Cam timing can jump a tooth if the tensioner fails, but that's not very common. Usually if it's a tooth off the engine will seem to still run OK, though overall power will be noticeably lacking.