Why is the easier part.
Poppet valves in gasoline engines can not leak, bad things happen when they do, If an exaust valve leaks when the cylinder fires, hot exhaust gas will cut a channel along the edge of the valve making the leak bigger and bigger until the valve loses part of it's side and the engine won't run at all. If the intake valves leak, hot gas ignites fuel in the carburator making the engine backfire all the time.
Engine blocks, and valves are not quite a perfect fit when made, so they are lapped, or ground into each other so they both have exactly the same shape and are both the same size at the hole, so they don't leak. Older engines, before hardened inserts, and particularly when carbon deposits were a problem, and carbon occasionally got stuck under the valve, also needed the valves and block relapped from time to time to adjust for normal wear.
If the valves were new, or in fairly good shape, all that was needed was to put some abrasive compound on the edge of the valve and spin it around in the hole in the block. For damaged or badly worn valves, there were tools to cut off some metal on the edge of the valve to make it smooth and round again, then it was also lapped in place....