The timing on your bike is set automatically by the computer and cannot "jump", not even on the older models. There is a crankshaft position sensor on the left front of the engine case that senses the position of the crank. Since your bike is equipped with a carburetor, it has a fuel petcock. This petcock is operated by manifold vacuum. The vacuum line connects to the backside of the carb. Make sure it is connected at the carb and to the backside of the petcock. To check the petcock, you must have a hand operated vacuum pump. Disconnect the fuel line, connect the vacuum pump to the vacuum nipple on the backside of the petcock and apply vacuum. Fuel should run out of the fuel line. If not, you need to replace the diaphragm in the petcock. Personally, I'd replace the petcock with a high quality manual petcock like a Pingel. You'll have to turn your fuel on and off manually, old school but it won't give you any more trouble.
You can take an oil squirt can and put some fuel in it. Remove the air filter and squirt a couple of shots of fuel in the mouth of the carb. Try to start the engine. If it starts or fires a couple of times, then you know the spark is fine. If you get the engine to run long enough, it will allow the carb to fill with fuel and it may run on it's own then.
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