Heres my step by step method.
Step#1 remove valve covers.
Step#2 remove spark plugs (makes it easier to turn motor by hand)
Step#3 adjust valves like Tod said> "When the ex starts to open, adjust the intake. When the intake has opened completely and is on it's way closed, adjust the exhaust"
Step#4 re-install valve covers and plugs.
That pretty much covers it.