Leshby, the camshaft has to be put back in place with the timing marks (on the timing gears) together. The B&S overhaul manual says this:
NOTE: Model series 94000, 171700, 191700, 251700,
and 252700 have a removable timing gear. When
installing timing gear, have inner chamfer toward
crankpin. This assures that timing mark will be visible
[Linked Image]

Note that your engine is a later model which replaced the 251700 and is generally similar to it.

You can read that part of the overhaul manual (or the whole manual if you want, by using the back and next buttons at the top of the page) at this URL:
http://www.tpub.com/content/recoveryvehicles/TM-5-4240-501-14P/css/TM-5-4240-501-14P_243.htm

Your carburetor is probably the large one-piece flo-jet, which looks like this:
[Linked Image]

Verify that is the carburetor you have, just in case you turn out to have something different. There are three tuning adjustments on the carburetor: the idle speed, the idle valve (i.e. idle mixture), on top of the carburetor, and the needle valve (i.e. main mixture), underneath the center of the float valve. Be gentle with both of the mixture screws: do not turn them clockwise until they run out of movement unless you are very gentle with them, since you are forcing two soft brass surfaces into contact with each other, over a tiny surface area. Here are the overhaul instructions for that carburetor:
http://www.tpub.com/content/recoveryvehicles/TM-5-4240-501-14P/css/TM-5-4240-501-14P_115.htm

If the engine is currently not capable of running and you want to start from scratch with the carburetor adjustments, B&S recommend an initial adjustment of 1.5 turns anticlockwise from fully closed for the idle mixture, and 2.5 turns from fully closed for the main mixture. Remember, be gentle in finding the fully closed point (mixture screw fully clockwise) for both those screws. Also, clean out the fuel tank and fuel line before you begin any tuning process - if they contain much dirt you will then need to clean out the carburetor as described in the manual. Here are the mixture adjustment instructions from the B&S manual:
Carburetor Adjustment
Start engine and run to warm up. Then place governor
speed control lever in "FAST" position. Turn high speed
needle valve in until engine slows (clockwise - lean
mixture). Then turn it out past smooth operating point
(rich mixture). Now turn high speed needle valve to
midpoint between rich and lean. Next, adjust idle RPM.
Rotate throttle counterclockwise and hold against stop.
Adjust idle speed adjusting screw to obtain 1750 RPM,
aluminum engines; 1200 RPM, cast iron engines.
Holding throttle against idle stop, turn idle valve in (lean)
and out (rich). Set at midpoint between rich and lean.
Recheck idle RPM. Release throttle. If engine will not
accelerate properly, the carburetor should be readjusted,
usually to a slightly richer mixture.


The ignition timing is not adjustable on that engine. The ignition system is electronic (breakerless) and the timing is set by the key that locks the crankshaft to the flywheel. Check visually that the key has not sheared, because if it has, the ignition timing will be wrong. Note that the key is made from zinc, not steel, so that it will shear easily if the blades strike something they can't handle. This protects the crankshaft from torsional failure due to the flywheel's momentum.