The concept of cohomological goodness was introduced by J.-P. Serre in his book on Galois cohomology [31]. This property relates the cohomology groups of a group to those of its profinite completion. We develop properties of goodness and establish goodness for certain important groups. We prove, for example, that the Bianchi groups (i.e., the groups ${\rm PSL}(2,{\cal O})$ , where ${\cal O}$ is the ring of integers in an imaginary quadratic number field) are good. As an application of our improved understanding of goodness, we are able to show that certain natural central extensions of Fuchsian groups are residually finite. This result contrasts with examples of P. Deligne [5], who shows that the analogous central extensions of ${\rm Sp}(4,\mathbb{Z})$ do not have this property